Clark Capital Management Group Inc. Has $7.40 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Clark Capital Management Group Inc. lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 19.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,507 shares of the company's stock after buying an additional 3,742 shares during the period. Clark Capital Management Group Inc.'s holdings in GE Vernova were worth $7,403,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC raised its holdings in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after buying an additional 39 shares in the last quarter. MRP Capital Investments LLC acquired a new position in shares of GE Vernova during the 4th quarter worth $25,000. Fairway Wealth LLC raised its holdings in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC raised its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after buying an additional 69 shares in the last quarter. Finally, Navigoe LLC acquired a new position in shares of GE Vernova during the 4th quarter worth $27,000.

GE Vernova Stock Performance

Shares of NYSE:GEV traded up $16.67 during midday trading on Tuesday, reaching $433.30. The company's stock had a trading volume of 4,767,183 shares, compared to its average volume of 3,318,847. The firm has a market capitalization of $118.26 billion and a price-to-earnings ratio of 77.93. The firm has a 50 day moving average price of $332.32 and a two-hundred day moving average price of $342.20. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.47) EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Thursday, April 17th. GE Vernova's payout ratio is 14.41%.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research analyst reports. Truist Financial set a $440.00 price target on GE Vernova in a report on Thursday, March 27th. JPMorgan Chase & Co. reduced their price objective on GE Vernova from $436.00 to $425.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. William Blair restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Guggenheim restated a "buy" rating and set a $380.00 price objective on shares of GE Vernova in a research report on Thursday, April 24th. Finally, BMO Capital Markets reduced their price objective on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Six analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $369.22.

GE Vernova Company 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.