GE Vernova Inc. (NYSE:GEV) Given Consensus Recommendation of “Moderate Buy” by Analysts

GE Vernova Inc. (NYSE:GEV) has earned an average rating of “Moderate Buy” from the twenty-eight research firms that are covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, twenty have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $314.35.

GEV has been the subject of several research analyst reports. HSBC reaffirmed a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a research report on Wednesday, December 11th. TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Guggenheim lowered their price objective on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, Truist Financial lifted their target price on shares of GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

Hedge Funds Weigh In On GE Vernova

Institutional investors have recently made changes to their positions in the business. Deseret Mutual Benefit Administrators acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $25,000. Trifecta Capital Advisors LLC acquired a new stake in GE Vernova during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in GE Vernova during the 2nd quarter worth approximately $25,000. Spectrum Wealth Counsel LLC acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $27,000. Finally, Game Plan Financial Advisors LLC bought a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $28,000.

GE Vernova Stock Up 3.0 %

Shares of GEV stock opened at $342.66 on Monday. The business’s fifty day moving average price is $319.21 and its 200 day moving average price is $238.41. GE Vernova has a 1-year low of $115.00 and a 1-year high of $357.09.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, December 20th.

GE Vernova announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.