McClarren Financial Advisors Inc. Increases Stake in GE Vernova Inc. (NYSE:GEV)

Key Points

• McClarren Financial Advisors Inc. significantly increased its stake in GE Vernova Inc. by 2,102.3% in the first quarter, now holding 947 shares valued at $289,000.
• GE Vernova's stock has received a mix of ratings from analysts, with ten analysts rating it as a hold and eighteen issuing buy ratings, leading to an average price target of $560.21.
• The company reported a quarterly EPS of $1.86, surpassing analysts' expectations, and announced a dividend of $0.25 per share, resulting in a yield of 0.2%.

McClarren Financial Advisors Inc. raised its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 2,102.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 947 shares of the company's stock after buying an additional 904 shares during the period. McClarren Financial Advisors Inc.'s holdings in GE Vernova were worth $289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Navigoe LLC purchased a new stake in shares of GE Vernova during the fourth quarter valued at approximately $27,000. Clarity Asset Management Inc. bought a new stake in GE Vernova in the 4th quarter worth $28,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova in the first quarter valued at about $27,000. Orion Capital Management LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth about $30,000. Finally, EQ Wealth Advisors LLC bought a new position in GE Vernova during the 1st quarter valued at approximately $27,000.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GEV shares. Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Wells Fargo & Company lifted their target price on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Bank of America lifted their price objective on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Mizuho lowered 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. Finally, Glj Research initiated coverage on GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating for the company. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Trading Up 2.2%

GE Vernova stock traded up $14.09 during trading on Wednesday, reaching $663.81. The company had a trading volume of 1,876,296 shares, compared to its average volume of 2,926,753. The firm has a market capitalization of $180.70 billion, a price-to-earnings ratio of 159.95, a price-to-earnings-growth ratio of 4.49 and a beta of 1.90. The firm's 50-day simple moving average is $537.94 and its 200 day simple moving average is $419.58. GE Vernova Inc. has a 52 week low of $164.69 and a 52 week high of $677.29.

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

GE Vernova Announces Dividend

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

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.