GE Vernova (NYSE:GEV) Receives Outperform Rating from William Blair

GE Vernova (NYSE:GEV)‘s stock had its “outperform” rating reissued by equities research analysts at William Blair in a report issued on Wednesday,RTT News reports.

A number of other analysts also recently weighed in on GEV. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group boosted their price target on GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays lifted their price objective on shares of GE Vernova from $320.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Royal Bank of Canada lifted their price target on shares of GE Vernova from $285.00 to $376.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Seven research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $304.73.

GE Vernova Trading Down 2.3 %

GEV opened at $327.41 on Wednesday. GE Vernova has a twelve month low of $115.00 and a twelve month high of $357.09. The company has a fifty day moving average of $306.45 and a 200-day moving average of $228.84.

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

Institutional Trading of GE Vernova

Several hedge funds have recently added to or reduced their stakes in GEV. Deseret Mutual Benefit Administrators purchased a new stake in shares of GE Vernova during the 2nd quarter worth approximately $25,000. Trifecta Capital Advisors LLC bought a new position in GE Vernova during the second quarter valued at $25,000. Meeder Asset Management Inc. purchased a new stake in GE Vernova in the second quarter worth $25,000. Timber Creek Capital Management LLC bought a new stake in shares of GE Vernova in the second quarter valued at $27,000. Finally, Gradient Investments LLC purchased a new position in shares of GE Vernova during the 2nd quarter valued at $27,000.

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.