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

GE Vernova Inc. (NYSE:GEV) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 4,880,000 shares, a growth of 22.3% from the February 28th total of 3,990,000 shares. Based on an average daily volume of 3,910,000 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.8% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GEV shares. JPMorgan Chase & Co. increased their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Barclays decreased their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Robert W. Baird began coverage on GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price for the company. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $349.20.

GE Vernova Stock Down 4.9 %

NYSE:GEV opened at $314.44 on Thursday. The business’s 50-day simple moving average is $339.82 and its two-hundred day simple moving average is $324.64. GE Vernova has a 52 week low of $119.00 and a 52 week high of $447.50. The stock has a market cap of $86.75 billion and a PE ratio of 56.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has authorized a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently bought and sold shares of the business. Park National Corp OH grew its position in GE Vernova by 2,031.7% in the first quarter. Park National Corp OH now owns 41,803 shares of the company’s stock worth $12,762,000 after acquiring an additional 39,842 shares in the last quarter. Marcum Wealth LLC raised its holdings in GE Vernova by 32.5% during the 1st quarter. Marcum Wealth LLC now owns 1,171 shares of the company’s stock valued at $357,000 after buying an additional 287 shares during the period. Neville Rodie & Shaw Inc. boosted its stake in GE Vernova by 1.0% during the first quarter. Neville Rodie & Shaw Inc. now owns 18,563 shares of the company’s stock worth $5,667,000 after buying an additional 185 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of GE Vernova by 24.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,409 shares of the company’s stock worth $430,000 after acquiring an additional 276 shares during the last quarter. Finally, Fulcrum Equity Management boosted its stake in shares of GE Vernova by 3.6% during the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company’s stock worth $291,000 after purchasing an additional 31 shares during the period.

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.