Truist Financial Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV) had its target price increased by Truist Financial from $400.00 to $420.00 in a report published on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Citigroup boosted their price objective on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Wolfe Research initiated coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Evercore ISI raised their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. Seven 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.35.

GE Vernova Trading Up 1.0 %

Shares of GE Vernova stock opened at $390.86 on Thursday. GE Vernova has a 1 year low of $115.00 and a 1 year high of $397.76. The firm’s 50-day moving average is $342.29 and its two-hundred day moving average is $261.18.

GE Vernova Announces Dividend

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

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in shares of GE Vernova during the second quarter valued at approximately $375,000. American Century Companies Inc. acquired a new position in GE Vernova in the 2nd quarter valued at $4,940,000. Envestnet Asset Management Inc. purchased a new position in GE Vernova in the 2nd quarter valued at $45,674,000. Massachusetts Financial Services Co. MA acquired a new stake in GE Vernova during the 2nd quarter worth $119,390,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of GE Vernova during the second quarter worth $176,775,000.

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.