Clarion Wealth Managment Partners LLC Invests $399,000 in GE Vernova Inc. $GEV

Clarion Wealth Managment Partners LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 754 shares of the company’s stock, valued at approximately $399,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sachetta LLC increased its stake in shares of GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after buying an additional 16 shares during the period. Good Life Advisors LLC grew its holdings in GE Vernova by 1.0% during the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after acquiring an additional 16 shares in the last quarter. Bell Investment Advisors Inc increased its position in shares of GE Vernova by 6.7% in the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after purchasing an additional 16 shares during the last quarter. AMG National Trust Bank raised its holdings in shares of GE Vernova by 1.5% in the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after purchasing an additional 17 shares in the last quarter. Finally, Graney & King LLC lifted its position in shares of GE Vernova by 2.4% during the 2nd quarter. Graney & King LLC now owns 722 shares of the company’s stock worth $382,000 after purchasing an additional 17 shares during the last quarter.

GE Vernova Stock Down 4.5%

NYSE:GEV opened at $672.32 on Friday. The company has a market capitalization of $182.41 billion, a PE ratio of 109.50, a P/E/G ratio of 5.04 and a beta of 1.71. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00. The stock’s 50 day moving average price is $597.06 and its 200 day moving average price is $582.82.

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

GE Vernova Increases Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is 16.29%.

Wall Street Analyst Weigh In

Several research firms recently commented on GEV. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday. Barclays increased their price objective on GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Seaport Res Ptn cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Thursday. HSBC upped their price target on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Finally, TD Cowen cut their price objective on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $654.54.

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.