Clear Street Group Inc. Purchases 23,101 Shares of GE Vernova Inc. $GEV

Clear Street Group Inc. boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 50.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 69,246 shares of the company’s stock after buying an additional 23,101 shares during the quarter. Clear Street Group Inc.’s holdings in GE Vernova were worth $45,257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GEV. Norges Bank bought a new stake in shares of GE Vernova in the 4th quarter valued at about $2,283,114,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of GE Vernova by 5,171.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after acquiring an additional 2,406,326 shares during the last quarter. Capital World Investors increased its stake in shares of GE Vernova by 1,907.5% in the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after acquiring an additional 2,048,792 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of GE Vernova by 170.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock valued at $722,956,000 after acquiring an additional 740,339 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after acquiring an additional 685,466 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently commented on GEV shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Erste Group Bank upgraded GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Wells Fargo & Company boosted their price objective on GE Vernova from $831.00 to $896.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Finally, TD Cowen boosted their price objective on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,085.16.

GE Vernova Trading Up 3.7%

NYSE:GEV opened at $940.14 on Friday. GE Vernova Inc. has a twelve month low of $474.21 and a twelve month high of $1,181.95. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $1,008.85 and a two-hundred day moving average price of $831.73. The company has a market cap of $252.63 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 3.49 and a beta of 1.23.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the firm posted $0.91 EPS. The business’s revenue was up 17.0% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is 5.83%.

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the transaction, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.