GE Vernova Inc. (NYSE:GEV) Short Interest Update

GE Vernova Inc. (NYSE:GEV) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 3,990,000 shares, a growth of 17.7% from the February 13th total of 3,390,000 shares. Based on an average daily trading volume, of 3,910,000 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.5% of the shares of the company are short sold.

Institutional Investors Weigh In On GE Vernova

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. boosted its position in GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after acquiring an additional 27 shares during the last quarter. Hengehold Capital Management LLC boosted its holdings in shares of GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares during the last quarter. AdvisorNet Financial Inc grew its position in shares of GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC increased its holdings in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after purchasing an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its position in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after buying an additional 31 shares in the last quarter.

GE Vernova Stock Up 0.2 %

GEV opened at $336.46 on Friday. The company has a market cap of $92.83 billion and a PE ratio of 60.51. GE Vernova has a twelve month low of $119.00 and a twelve month high of $447.50. The company has a 50-day moving average price of $352.82 and a 200 day moving average price of $316.52.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that GE Vernova will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup raised their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group raised their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Jefferies Financial Group raised their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $348.72.

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.