Clark Capital Management Group Inc. Cuts Stock Position in GE Vernova Inc. $GEV

Key Points

• Clark Capital Management Group Inc. has reduced its stake in GE Vernova Inc. by 32%, now holding 15,297 shares valued at approximately $4.67 million.
• GE Vernova reported a quarterly earnings per share of $1.86, surpassing estimates, with revenue rising 11.1% year-over-year to $9.11 billion.
• The company has announced a quarterly dividend of $0.25, representing an annualized yield of 0.2% and a payout ratio of 24.10%.

Clark Capital Management Group Inc. trimmed its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 32.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,297 shares of the company's stock after selling 7,210 shares during the quarter. Clark Capital Management Group Inc.'s holdings in GE Vernova were worth $4,670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of GEV. EQ Wealth Advisors LLC purchased a new position in GE Vernova during the first quarter worth $27,000. IMA Advisory Services Inc. purchased a new position in GE Vernova during the first quarter worth $27,000. Clarity Asset Management Inc. purchased a new position in GE Vernova during the fourth quarter worth $28,000. Orion Capital Management LLC purchased a new position in GE Vernova during the fourth quarter worth $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after buying an additional 53 shares during the period.

GE Vernova Trading Up 3.9%

NYSE:GEV opened at $599.52 on Friday. GE Vernova Inc. has a twelve month low of $193.38 and a twelve month high of $677.29. The company has a market cap of $163.20 billion, a price-to-earnings ratio of 144.46, a price-to-earnings-growth ratio of 3.99 and a beta of 1.87. The stock has a fifty day simple moving average of $596.72 and a 200-day simple moving average of $455.99.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova's payout ratio is presently 24.10%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. UBS Group initiated coverage on shares of GE Vernova in a research note on Monday, July 7th. They set a "buy" rating and a $614.00 price objective for the company. Robert W. Baird lifted their target price on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Finally, Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price for the company. in a research report on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $560.21.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The stock was 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 directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.15% of the stock is owned by insiders.

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.

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