GE Vernova (NYSE:GEV) Price Target Raised to $374.00

GE Vernova (NYSE:GEV) had its price target raised by JPMorgan Chase & Co. from $367.00 to $374.00 in a research note published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms also recently commented on GEV. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Jefferies Financial Group lifted their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. BMO Capital Markets boosted their price objective on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. TD Cowen started coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $321.35.

GE Vernova Trading Up 1.0 %

Shares of NYSE GEV opened at $390.86 on Tuesday. The firm has a 50-day simple moving average of $342.29 and a 200-day simple moving average of $261.18. GE Vernova has a 52 week low of $115.00 and a 52 week high of $397.76.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.26%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its board has authorized a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently bought and sold shares of GEV. Acadian Asset Management LLC acquired a new position in shares of GE Vernova in the second quarter valued at approximately $375,000. American Century Companies Inc. acquired a new stake in GE Vernova during the 2nd quarter worth approximately $4,940,000. Parallel Advisors LLC purchased a new position in GE Vernova in the 2nd quarter valued at approximately $670,000. Thoroughbred Financial Services LLC acquired a new position in shares of GE Vernova in the second quarter worth $251,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of GE Vernova during the second quarter worth $45,674,000.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.