GE Vernova Inc. (NYSE:GEV) Short Interest Down 12.9% in January

GE Vernova Inc. (NYSE:GEV) was the recipient of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 4,590,000 shares, a decline of 12.9% from the January 15th total of 5,270,000 shares. Based on an average trading volume of 3,320,000 shares, the short-interest ratio is presently 1.4 days. Approximately 1.7% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Bank of America boosted their price target on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Wells Fargo & Company boosted their price target on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. BMO Capital Markets boosted their price target on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Wolfe Research started coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

Hedge Funds Weigh In On GE Vernova

Several institutional investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock valued at $8,177,803,000 after purchasing an additional 814,155 shares during the last quarter. Capital International Investors grew its holdings in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after buying an additional 2,994,660 shares in the last quarter. State Street Corp grew its holdings in GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC bought a new position in GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Finally, Geode Capital Management LLC boosted its stake in GE Vernova by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock valued at $1,898,814,000 after purchasing an additional 195,828 shares in the last quarter.

GE Vernova Trading Down 0.8 %

NYSE GEV traded down $2.88 on Friday, hitting $367.43. 2,238,001 shares of the stock traded hands, compared to its average volume of 4,236,943. The stock has a 50-day moving average of $361.74 and a 200 day moving average of $293.55. GE Vernova has a twelve month low of $115.00 and a twelve month high of $447.50. The company has a market capitalization of $101.37 billion and a P/E ratio of 66.08.

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

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its board has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in 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 management believes its shares are undervalued.

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.