GE Vernova (NYSE:GEV) Price Target Raised to $391.00 at Jefferies Financial Group

GE Vernova (NYSE:GEV) had its price target increased by equities research analysts at Jefferies Financial Group from $348.00 to $391.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 18.08% from the company’s current price.

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. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Wolfe Research assumed coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Oppenheimer started coverage on shares of GE Vernova in a research report on Thursday, September 26th. They issued a “market perform” rating on the stock. Finally, Truist Financial increased their target price on GE Vernova from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued 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 $313.27.

GE Vernova Price Performance

GEV stock traded up $1.23 during midday trading on Friday, reaching $331.14. The company’s stock had a trading volume of 1,692,283 shares, compared to its average volume of 3,442,884. The business’s 50-day simple moving average is $311.20 and its 200-day simple moving average is $231.38. GE Vernova has a 52 week low of $115.00 and a 52 week high of $357.09.

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

Institutional Trading of GE Vernova

A number of hedge funds have recently made changes to their positions in the stock. Pittenger & Anderson Inc. increased its holdings in shares of GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after buying an additional 35 shares during the period. SteelPeak Wealth LLC grew its stake in GE Vernova by 2.5% in the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock worth $400,000 after purchasing an additional 38 shares during the period. Global Retirement Partners LLC increased its stake in shares of GE Vernova by 0.9% in the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after acquiring an additional 40 shares in the last quarter. Whittier Trust Co. increased its position in GE Vernova by 1.9% during the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after buying an additional 40 shares in the last quarter. Finally, Dunhill Financial LLC boosted its holdings in GE Vernova by 21.6% in the third quarter. Dunhill Financial LLC now owns 225 shares of the company’s stock worth $57,000 after acquiring an additional 40 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.