GE Vernova (NYSE:GEV) Receives Outperform Rating from William Blair

William Blair restated their outperform rating on shares of GE Vernova (NYSE:GEV) in a report released on Wednesday morning,RTT News reports.

A number of other analysts also recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. BMO Capital Markets upped their price target on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Jefferies Financial Group lifted their price objective on GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised their target price on GE Vernova from $330.00 to $356.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, TD Cowen initiated coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $307.15.

GE Vernova Stock Performance

GEV stock opened at $343.88 on Wednesday. GE Vernova has a 52-week low of $115.00 and a 52-week high of $357.09. The company has a 50-day moving average of $307.87 and a two-hundred day moving average of $229.90.

GE Vernova declared that its board has authorized a stock buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

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

Institutional Trading of GE Vernova

Hedge funds have recently added to or reduced their stakes in the business. Deseret Mutual Benefit Administrators purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $25,000. Trifecta Capital Advisors LLC acquired a new stake in shares of GE Vernova in the second quarter worth $25,000. Meeder Asset Management Inc. purchased a new position in shares of GE Vernova during the second quarter valued at $25,000. Timber Creek Capital Management LLC acquired a new position in GE Vernova during the second quarter valued at $27,000. Finally, Gradient Investments LLC purchased a new stake in GE Vernova in the 2nd quarter worth about $27,000.

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.