William Blair Reaffirms Outperform Rating for GE Vernova (NYSE:GEV)

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

Several other research analysts also recently commented on GEV. Morgan Stanley lifted their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Citigroup upped 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. Guggenheim raised their target price on shares of GE Vernova from $300.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Jefferies Financial Group increased their price target on shares of GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada boosted their price objective on GE Vernova from $285.00 to $376.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $304.73.

GE Vernova Trading Down 2.3 %

GE Vernova stock opened at $327.41 on Wednesday. The stock has a 50-day simple moving average of $306.45 and a 200 day simple moving average of $228.84. GE Vernova has a 52 week low of $115.00 and a 52 week high of $357.09.

GE Vernova declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently bought and sold shares of the company. Deseret Mutual Benefit Administrators bought a new position in GE Vernova in the 2nd quarter valued at approximately $25,000. Trifecta Capital Advisors LLC bought a new position in shares of GE Vernova during the second quarter valued at $25,000. Meeder Asset Management Inc. bought a new position in shares of GE Vernova during the second quarter valued at $25,000. Timber Creek Capital Management LLC acquired a new position in shares of GE Vernova during the second quarter worth $27,000. Finally, Gradient Investments LLC bought a new stake in shares of GE Vernova in the second quarter worth $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.