Clarion Wealth Managment Partners LLC Buys Shares of 754 GE Vernova Inc. $GEV

Clarion Wealth Managment Partners LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 754 shares of the company’s stock, valued at approximately $399,000.

Several other hedge funds have also recently modified their holdings of the stock. Pines Wealth Management LLC purchased a new position in GE Vernova in the 2nd quarter valued at about $408,000. Dupree Financial Group LLC acquired a new position in shares of GE Vernova in the second quarter valued at approximately $253,000. International Assets Investment Management LLC lifted its stake in shares of GE Vernova by 18.8% during the second quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock valued at $2,065,000 after buying an additional 619 shares during the period. Alpha Financial Partners LLC purchased a new position in shares of GE Vernova during the second quarter valued at approximately $230,000. Finally, Aviva PLC boosted its position in GE Vernova by 6.7% during the second quarter. Aviva PLC now owns 205,086 shares of the company’s stock worth $108,521,000 after acquiring an additional 12,790 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have weighed in on GEV. Melius Research set a $740.00 price target on GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. Mizuho lowered their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Oppenheimer upgraded GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price on the stock in a research report on Wednesday. Susquehanna lifted their price target on GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a report on Wednesday. Finally, Seaport Res Ptn downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $654.54.

GE Vernova Trading Down 4.5%

GEV stock opened at $672.32 on Friday. The company has a market cap of $182.41 billion, a PE ratio of 109.50, a price-to-earnings-growth ratio of 5.04 and a beta of 1.71. The stock has a 50-day moving average price of $597.06 and a two-hundred day moving average price of $582.82. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $731.00.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.35) earnings per share. Equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. GE Vernova’s dividend payout ratio is presently 16.29%.

GE Vernova 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.