GE Vernova (NYSE:GEV - Get Free Report)'s stock had its "outperform" rating reissued by Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $376.00 price target on the stock. Royal Bank of Canada's price target would indicate a potential upside of 7.97% from the company's previous close.
Several other research analysts have also recently weighed in on GEV. Raymond James cut shares of GE Vernova from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 2nd. Hsbc Global Res lowered shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Friday, October 4th. Evercore ISI lifted their target price on shares of GE Vernova from $300.00 to $323.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Oppenheimer assumed coverage on shares of GE Vernova in a report on Thursday, September 26th. They set a "market perform" rating for the company. Finally, William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a report on Wednesday. Seven investment 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 stock. According to MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus price target of $304.73.
View Our Latest Report on GE Vernova
GEV stock traded up $20.84 during trading on Wednesday, hitting $348.23. The company had a trading volume of 2,076,464 shares, compared to its average volume of 3,425,168. The firm has a 50-day moving average price of $306.45 and a 200-day moving average price of $228.84. GE Vernova has a 12 month low of $115.00 and a 12 month high of $357.09.
GE Vernova announced that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of GEV. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova in the 3rd quarter valued at about $2,507,296,000. Newport Trust Company LLC acquired a new position in GE Vernova in the 2nd quarter valued at about $650,140,000. Bank of New York Mellon Corp acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $537,674,000. Marshall Wace LLP acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $399,770,000. Finally, Legal & General Group Plc acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $293,699,000.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider GE Vernova, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GE Vernova wasn't on the list.
While GE Vernova currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.