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

GE Vernova Inc. (NYSE:GEV - Get Free Report) was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 4,590,000 shares, a drop of 12.9% from the January 15th total of 5,270,000 shares. Based on an average daily volume of 3,320,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.7% of the company's shares are short sold.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GEV. The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. CICC Research assumed coverage on shares of GE Vernova in a research report on Wednesday. They set an "outperform" rating for the company. Wells Fargo & Company raised their price objective on GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Finally, William Blair restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $350.13.

GE Vernova Stock Up 0.4 %

NYSE GEV traded up $1.62 on Wednesday, reaching $374.87. The company had a trading volume of 1,667,496 shares, compared to its average volume of 3,631,086. The stock has a market cap of $103.43 billion and a price-to-earnings ratio of 67.42. GE Vernova has a 52 week low of $115.00 and a 52 week high of $447.50. The stock's 50 day moving average is $363.90 and its 200-day moving average is $297.73.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $10.56 billion for 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%. GE Vernova's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts forecast that GE Vernova will post 6.59 EPS for the current year.

GE Vernova declared that its board has authorized a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova's payout ratio is presently 17.99%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its holdings in shares of GE Vernova by 8.6% during the 4th quarter. Toronto Dominion Bank now owns 147,639 shares of the company's stock valued at $48,563,000 after purchasing an additional 11,701 shares in the last quarter. Retirement Planning Group LLC NY acquired a new stake in GE Vernova during the 4th quarter worth approximately $507,000. Pinney & Scofield Inc. bought a new position in GE Vernova in the fourth quarter valued at approximately $71,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of GE Vernova in the fourth quarter valued at approximately $1,835,000. Finally, Sunbelt Securities Inc. increased its position in shares of GE Vernova by 470.4% during the fourth quarter. Sunbelt Securities Inc. now owns 1,312 shares of the company's stock worth $433,000 after acquiring an additional 1,082 shares in the last quarter.

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.