Clarity Financial LLC Raises Stock Position in GE Vernova Inc. (NYSE:GEV)

Clarity Financial LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 59.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,088 shares of the company’s stock after purchasing an additional 16,050 shares during the period. GE Vernova accounts for 1.7% of Clarity Financial LLC’s holdings, making the stock its 20th biggest position. Clarity Financial LLC’s holdings in GE Vernova were worth $14,173,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of GEV. Mountaineer Partners Management LLC purchased a new position in GE Vernova in the 3rd quarter valued at $2,507,296,000. International Assets Investment Management LLC raised its position in shares of GE Vernova by 35,238.2% in the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after buying an additional 1,431,729 shares during the last quarter. WCM Investment Management LLC lifted its stake in shares of GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after buying an additional 1,161,901 shares in the last quarter. 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 acquiring an additional 584,208 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in GE Vernova by 34.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after acquiring an additional 460,834 shares in the last quarter.

Analyst Ratings Changes

GEV has been the topic of several recent research reports. Wolfe Research began coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Citigroup upped their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. HSBC reiterated a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Wells Fargo & Company upped their price objective 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. Finally, BMO Capital Markets lifted their target price 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. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Stock Up 8.3 %

Shares of GEV stock opened at $382.73 on Friday. The stock’s 50-day moving average price is $353.99 and its 200 day moving average price is $276.49. The stock has a market capitalization of $105.50 billion and a PE ratio of 68.84. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly 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). The company had revenue of $10.56 billion for the quarter, compared to analyst estimates 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 was up 5.1% compared to the same quarter last year. Analysts expect that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership 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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

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.