Clearwave Capital LLC Makes New Investment in GE Vernova Inc. $GEV

Clearwave Capital LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 523 shares of the company’s stock, valued at approximately $342,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE raised its holdings in shares of GE Vernova by 2.2% during the third quarter. US Bancorp DE now owns 100,542 shares of the company’s stock valued at $61,824,000 after acquiring an additional 2,163 shares during the period. Varenne Capital Partners acquired a new position in GE Vernova in the 3rd quarter worth approximately $4,872,000. Merit Financial Group LLC boosted its stake in GE Vernova by 17.4% in the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after purchasing an additional 2,230 shares during the period. Stevens Capital Management LP grew its position in GE Vernova by 56.0% during the 3rd quarter. Stevens Capital Management LP now owns 3,640 shares of the company’s stock worth $2,238,000 after purchasing an additional 1,307 shares in the last quarter. Finally, Vest Financial LLC raised its stake in GE Vernova by 56.7% during the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after purchasing an additional 23,956 shares during the period.

Insider Buying and Selling

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following 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 document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

GE Vernova Stock Performance

GE Vernova stock opened at $1,111.65 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm has a market capitalization of $298.72 billion, a P/E ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a 52-week low of $479.04 and a 52-week high of $1,181.95. The stock has a fifty day moving average price of $1,022.78 and a two-hundred day moving average price of $847.85.

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

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s dividend payout ratio is currently 5.83%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TD Cowen lifted their price target on GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. BNP Paribas Exane lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a report on Monday, April 27th. Royal Bank Of Canada raised their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Robert W. Baird lifted their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, Guggenheim upped their price target on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Company 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.