Clear Street Group Inc. Has $45.26 Million Position in GE Vernova Inc. $GEV

Key Points

• Clear Street Group Inc. increased its GE Vernova stake by 50.1% in the fourth quarter, ending with 69,246 shares worth about $45.26 million.
• GE Vernova continues to attract major institutional interest, with firms like Vanguard, State Street, Geode, Morgan Stanley, and Norges Bank all adding or holding large positions.
• Analysts remain broadly positive despite a few mixed ratings, and the company also reported strong quarterly results, including EPS of $17.44 versus estimates of $1.95 and revenue growth of 17% year over year.

Clear Street Group Inc. grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 50.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,246 shares of the company's stock after purchasing an additional 23,101 shares during the period. Clear Street Group Inc.'s holdings in GE Vernova were worth $45,257,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of GE Vernova by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock valued at $16,354,691,000 after purchasing an additional 208,162 shares in the last quarter. State Street Corp boosted its stake in shares of GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company's stock valued at $7,496,232,000 after purchasing an additional 231,392 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock valued at $4,074,039,000 after purchasing an additional 68,894 shares in the last quarter. Morgan Stanley boosted 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 purchasing an additional 685,466 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of GE Vernova in the 4th quarter valued at $2,283,114,000.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GEV. Rothschild & Co Redburn upgraded shares of GE Vernova from a "sell" rating to a "buy" rating and boosted their target price for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. Zacks Research downgraded shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Argus set a $1,300.00 target price on shares of GE Vernova in a research note on Monday, April 27th. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $1,328.00 price target on shares of GE Vernova in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,085.16.

Insider Activity

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company's stock.

GE Vernova Stock Up 3.7%

Shares of NYSE GEV opened at $940.14 on Friday. The firm's 50-day simple moving average is $1,008.85 and its 200 day simple moving average is $831.73. The company has a market cap of $252.63 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 3.49 and a beta of 1.23. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 12-month low of $474.21 and a 12-month high of $1,181.95.

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

GE Vernova Dividend Announcement

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

About GE Vernova

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.

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