GE Vernova (NYSE:GEV) Given New $374.00 Price Target at JPMorgan Chase & Co.

GE Vernova (NYSE:GEV) had its price target raised by JPMorgan Chase & Co. from $367.00 to $374.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

GEV has been the topic of several other research reports. Guggenheim cut their price objective on GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. BMO Capital Markets upped their target price on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Oppenheimer started coverage on shares of GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating for the company. Finally, Bank of America upped their target price on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. 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 stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $318.60.

GE Vernova Stock Up 4.1 %

Shares of GE Vernova stock opened at $381.73 on Tuesday. GE Vernova has a 12 month low of $115.00 and a 12 month high of $388.88. The stock’s fifty day simple moving average is $341.28 and its 200 day simple moving average is $260.29.

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

GE Vernova Dividend Announcement

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

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently made changes to their positions in the company. Mountaineer Partners Management LLC acquired a new stake in GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Newport Trust Company LLC bought a new position in GE Vernova during the 2nd quarter worth $650,140,000. Marshall Wace LLP acquired a new stake in shares of GE Vernova during the second quarter worth $399,770,000. Legal & General Group Plc bought a new stake in shares of GE Vernova in the second quarter valued at about $293,699,000. Finally, Electron Capital Partners LLC grew its stake in shares of GE Vernova by 1,641.3% in 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 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.