GE Vernova (NYSE:GEV) Price Target Raised to $470.00 at Truist Financial

GE Vernova (NYSE:GEV) had its price objective raised by Truist Financial from $420.00 to $470.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on GEV. Citigroup boosted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley lifted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Oppenheimer began coverage on GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating on the stock. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Seven 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $337.48.

GE Vernova Price Performance

NYSE GEV opened at $437.37 on Thursday. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The stock’s fifty day moving average is $349.37 and its two-hundred day moving average is $269.42.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 4.22% and a net margin of 3.67%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that GE Vernova will post 1.96 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Friday, December 20th.

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

Hedge Funds Weigh In On GE Vernova

Large investors have recently bought and sold shares of the company. Cedar Mountain Advisors LLC raised its holdings in 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 purchasing an additional 39 shares in the last quarter. Castleview Partners LLC purchased a new position in shares of GE Vernova during the 3rd quarter worth approximately $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $29,000. Covestor Ltd boosted its stake in shares of GE Vernova by 61.3% in the third 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. Finally, Darwin Wealth Management LLC acquired a new position in GE Vernova during the third quarter worth $31,000.

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.