Clarity Capital Partners LLC Grows Position in GE Vernova Inc. (NYSE:GEV)

Clarity Capital Partners LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,481 shares of the company’s stock after purchasing an additional 135 shares during the quarter. Clarity Capital Partners LLC’s holdings in GE Vernova were worth $487,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GEV. FMR LLC boosted its position in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp raised its stake in shares of GE Vernova by 1.1% during 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 during the period. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova during the 3rd quarter valued at approximately $2,507,296,000. Geode Capital Management LLC grew its stake in GE Vernova by 1.5% in the 3rd 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 during the period. Finally, WCM Investment Management LLC increased its holdings in GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after acquiring an additional 1,161,901 shares in the last quarter.

GE Vernova Price Performance

NYSE GEV opened at $369.76 on Thursday. The stock has a market capitalization of $101.92 billion and a P/E ratio of 66.50. The firm’s 50-day moving average is $360.36 and its two-hundred day moving average is $290.17. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS 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 company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

GE Vernova Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. GE Vernova’s dividend payout ratio is currently 17.99%.

Analyst Ratings Changes

GEV has been the topic of several recent analyst reports. BMO Capital Markets increased their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Evercore ISI boosted their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Royal Bank of Canada restated an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group boosted their price target on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $346.22.

GE Vernova 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.