GE Vernova Inc. (NYSE:GEV) Short Interest Up 22.3% in March

GE Vernova Inc. (NYSE:GEV) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 4,880,000 shares, an increase of 22.3% from the February 28th total of 3,990,000 shares. Based on an average daily trading volume, of 3,910,000 shares, the short-interest ratio is currently 1.2 days. Approximately 1.8% of the company’s shares are sold short.

Institutional Investors Weigh In On GE Vernova

Several large investors have recently added to or reduced their stakes in GEV. Register Financial Advisors LLC bought a new position in shares of GE Vernova during the 4th quarter valued at approximately $206,000. GPS Wealth Strategies Group LLC increased its position in GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after acquiring an additional 822 shares during the last quarter. Yarbrough Capital LLC increased its position in GE Vernova by 67.2% during the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after acquiring an additional 1,160 shares during the last quarter. Legacy Bridge LLC raised its stake in shares of GE Vernova by 77.0% in the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock valued at $3,612,000 after acquiring an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in shares of GE Vernova by 16.6% during the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after purchasing an additional 1,408 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently commented on GEV shares. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Barclays lowered their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Susquehanna began coverage on GE Vernova in a research note on Wednesday. They set a “positive” rating and a $370.00 target price on the stock. Finally, Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target for the company in a research note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $350.27.

GE Vernova Trading Up 2.6 %

GEV traded up $8.17 during trading on Wednesday, hitting $323.81. 772,924 shares of the company traded hands, compared to its average volume of 3,585,384. The company has a market cap of $89.34 billion and a PE ratio of 58.32. The stock’s 50-day simple moving average is $341.74 and its two-hundred day simple moving average is $324.60. GE Vernova has a 1 year low of $119.00 and a 1 year high of $447.50.

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

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.