The Goldman Sachs Group Issues Positive Forecast for GE Vernova (NYSE:GEV) Stock Price

GE Vernova (NYSE:GEV) had its target price boosted by The Goldman Sachs Group from $400.00 to $446.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on GEV. Morgan Stanley boosted their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Bank of America boosted their price target on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $376.00 price objective on shares of GE Vernova in a research report on Wednesday, December 11th. Oppenheimer began coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating on the stock. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, twenty have given 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 a consensus rating of “Moderate Buy” and a consensus target price of $321.35.

GE Vernova Stock Performance

NYSE GEV opened at $390.86 on Thursday. The firm has a 50-day moving average of $342.29 and a 200-day moving average of $261.18. GE Vernova has a 52-week low of $115.00 and a 52-week high of $397.76.

GE Vernova announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently announced 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.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently made changes to their positions in GEV. Mountaineer Partners Management LLC bought a new position in GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Newport Trust Company LLC acquired a new stake in shares of GE Vernova during the second quarter worth $650,140,000. Marshall Wace LLP bought a new position in GE Vernova during the second quarter worth $399,770,000. Legal & General Group Plc acquired a new position in GE Vernova in the second quarter valued at $293,699,000. Finally, Electron Capital Partners LLC boosted its position in GE Vernova by 1,641.3% during the second quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after acquiring an additional 1,596,996 shares during the last quarter.

About GE Vernova

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.