GE Vernova Inc. (NYSE:GEV) Given Average Rating of “Moderate Buy” by Brokerages

Shares of GE Vernova Inc. (NYSE:GEV) have received an average recommendation of “Moderate Buy” from the twenty-eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $326.85.

Several brokerages have recently weighed in on GEV. Wells Fargo & Company increased their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Barclays raised their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Morgan Stanley upped their target price on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Citigroup raised their price target on GE Vernova from $292.00 to $361.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Finally, Truist Financial upped their price objective on GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, January 16th.

GE Vernova Stock Performance

NYSE:GEV opened at $416.68 on Friday. The stock’s fifty day moving average is $345.63 and its 200 day moving average is $266.62. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $417.21.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.24%.

GE Vernova announced that its Board of Directors has authorized a stock repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Trading of GE Vernova

A number of institutional investors have recently bought and sold shares of the stock. Cedar Mountain Advisors LLC lifted its stake in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the period. Castleview Partners LLC acquired a new stake in GE Vernova during the 3rd quarter worth about $28,000. Covestor Ltd grew its stake in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova in the third quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the period.

GE Vernova Company Profile

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.