646 Shares in GE Vernova Inc. $GEV Bought by Clear Creek Financial Management LLC

Key Points

• Clear Creek Financial Management LLC purchased 646 shares of GE Vernova Inc., valued at approximately $342,000, during the 2nd quarter, marking a strategic investment in the energy company.
• GE Vernova reported strong earnings, with $1.86 earnings per share for the last quarter, surpassing estimates, and revenue of $9.11 billion, up 11.1% from the previous year.
• The company announced a quarterly dividend of $0.25, which will be paid on November 17th, showcasing its commitment to returning value to shareholders.

Clear Creek Financial Management LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 646 shares of the company's stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEV. AQR Capital Management LLC raised its stake in GE Vernova by 252.9% during the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock worth $366,016,000 after acquiring an additional 892,549 shares in the last quarter. Amundi raised its stake in GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company's stock worth $496,013,000 after acquiring an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in GE Vernova by 10,044.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company's stock worth $445,773,000 after acquiring an additional 834,129 shares in the last quarter. TD Asset Management Inc raised its stake in GE Vernova by 627.2% during the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock worth $282,946,000 after acquiring an additional 799,388 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in GE Vernova during the 1st quarter worth $223,556,000.

GE Vernova Stock Down 4.4%

Shares of NYSE:GEV opened at $606.30 on Friday. The company has a market cap of $165.05 billion, a price-to-earnings ratio of 146.10, a PEG ratio of 4.40 and a beta of 1.72. The firm's 50-day simple moving average is $619.64 and its 200-day simple moving average is $509.80. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 24.10%.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. BMO Capital Markets raised their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Jefferies Financial Group raised their price objective on shares of GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research report on Friday, September 12th. TD Cowen raised their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Citigroup raised their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Melius Research set a $740.00 price objective on shares of GE Vernova and gave the stock a "buy" rating in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $598.50.

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.

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