Jefferies Financial Group Increases GE Vernova (NYSE:GEV) Price Target to $391.00

GE Vernova (NYSE:GEV) had its price objective boosted by Jefferies Financial Group from $348.00 to $391.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on GEV. Royal Bank of Canada reissued an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a research report on Wednesday. Morgan Stanley raised their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Wolfe Research began coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Evercore ISI upped their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $314.35.

GE Vernova Trading Up 0.6 %

Shares of GE Vernova stock opened at $332.01 on Friday. GE Vernova has a 52 week low of $115.00 and a 52 week high of $357.09. The firm’s 50 day moving average is $312.53 and its two-hundred day moving average is $232.46.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, December 20th.

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

Institutional Trading of GE Vernova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEV. FMR LLC boosted its stake in shares of GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. State Street Corp boosted its holdings in shares of GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after purchasing an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC purchased a new stake in shares of GE Vernova in the third quarter valued at $2,507,296,000. Geode Capital Management LLC lifted its position in GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after buying an additional 80,479 shares during the period. Finally, Newport Trust Company LLC acquired a new stake in GE Vernova in the 2nd quarter worth about $650,140,000.

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.