GE Vernova (NYSE:GEV - Get Free Report) had its target price increased by research analysts at JPMorgan Chase & Co. from $356.00 to $367.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 6.11% from the company's current price.
GEV has been the subject of a number of other research reports. Evercore ISI boosted their price target on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday. 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 report on Thursday, October 10th. Citigroup boosted their price target on GE Vernova from $292.00 to $361.00 and gave the company a "neutral" rating in a report on Monday. Hsbc Global Res lowered GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Friday, October 4th. Finally, Guggenheim lowered their price target on GE Vernova from $400.00 to $380.00 and set a "buy" rating for the company in a report on Wednesday. Seven 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.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $307.15.
Check Out Our Latest Analysis on GEV
Shares of NYSE:GEV traded up $18.48 during trading hours on Wednesday, hitting $345.87. 3,362,043 shares of the company's stock traded hands, compared to its average volume of 3,434,861. GE Vernova has a 1 year low of $115.00 and a 1 year high of $357.09. The business has a fifty day moving average price of $307.87 and a 200-day moving average price of $229.90.
GE Vernova announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
Large investors have recently made changes to their positions in the stock. Pittenger & Anderson Inc. boosted its holdings in GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company's stock valued at $41,000 after purchasing an additional 35 shares during the last quarter. SteelPeak Wealth LLC boosted its holdings in GE Vernova by 2.5% in the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company's stock valued at $400,000 after purchasing an additional 38 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of GE Vernova by 0.9% during 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. boosted its stake in shares of GE Vernova by 1.9% during the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company's stock worth $537,000 after acquiring an additional 40 shares in the last quarter. Finally, Dunhill Financial LLC boosted its stake in shares of GE Vernova by 21.6% during the 3rd 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 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.
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