BMO Capital Markets Forecasts Strong Price Appreciation for GE Vernova (NYSE:GEV) Stock

GE Vernova (NYSE:GEV) had its price objective raised by BMO Capital Markets from $360.00 to $420.00 in a research report report published on Tuesday morning.

GEV has been the subject of several other reports. The Goldman Sachs Group upped their price target on shares of GE Vernova from $400.00 to $446.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Guggenheim lowered their target price on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. TD Cowen assumed coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Barclays increased their price target on GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. lifted their price objective on GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $326.85.

GE Vernova Stock Performance

NYSE:GEV opened at $416.68 on Tuesday. The stock’s 50-day moving average is $345.63 and its 200-day moving average is $266.62. GE Vernova has a 1-year low of $115.00 and a 1-year high of $417.21.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.24%.

GE Vernova declared that its board has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

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

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.