GE Vernova Inc. (NYSE:GEV) Shares Bought by Clarity Financial LLC

Clarity Financial LLC increased its position in GE Vernova Inc. (NYSE:GEV) by 59.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 43,088 shares of the company’s stock after acquiring an additional 16,050 shares during the quarter. GE Vernova accounts for approximately 1.7% of Clarity Financial LLC’s holdings, making the stock its 20th largest holding. Clarity Financial LLC’s holdings in GE Vernova were worth $14,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEV. FMR LLC grew its position in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. State Street Corp increased its position in GE Vernova by 1.1% during the third 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 acquired a new position in shares of GE Vernova in the third quarter worth $2,507,296,000. Geode Capital Management LLC lifted its position in shares of GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after acquiring an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC boosted its stake in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GEV shares. Wells Fargo & Company upped their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. TD Cowen assumed coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. 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 report on Tuesday, January 14th. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research report on Friday, January 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $342.94.

GE Vernova Stock Up 8.3 %

NYSE GEV opened at $382.73 on Friday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The business has a 50 day moving average price of $353.99 and a two-hundred day moving average price of $276.49. The stock has a market cap of $105.50 billion and a PE ratio of 68.84.

GE Vernova (NYSE:GEV) last announced its 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 net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

GE Vernova announced that its board has authorized 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 reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board 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.