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

GE Vernova Inc. (NYSE:GEV) has received an average rating of “Moderate Buy” from the twenty-eight analysts that are covering the stock, Marketbeat Ratings reports. Seven 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 company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $321.35.

GEV has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $376.00 target price on shares of GE Vernova in a research report on Wednesday, December 11th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Morgan Stanley increased 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. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Bank of America increased their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday.

GE Vernova Stock Up 1.0 %

GE Vernova stock opened at $390.86 on Friday. The firm’s fifty day moving average price is $342.29 and its 200 day moving average price is $261.18. GE Vernova has a 12-month low of $115.00 and a 12-month high of $397.76.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, December 20th.

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

Hedge Funds Weigh In On GE Vernova

Several large investors have recently bought and sold shares of the stock. Armstrong Advisory Group Inc. lifted its stake in shares of GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after acquiring an additional 27 shares during the period. AdvisorNet Financial Inc lifted its position in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares during the period. Pittenger & Anderson Inc. boosted its stake in GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after purchasing an additional 35 shares in the last quarter. Regent Peak Wealth Advisors LLC increased its position in shares of GE Vernova by 3.8% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock valued at $318,000 after purchasing an additional 35 shares during the period. Finally, SteelPeak Wealth LLC raised its stake in shares of GE Vernova by 2.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after buying an additional 38 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.