GE Vernova Inc. $GEV Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 11.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,535 shares of the company’s stock after purchasing an additional 860 shares during the period. Chicago Partners Investment Group LLC’s holdings in GE Vernova were worth $4,516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Highline Wealth Partners LLC increased its position in shares of GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares during the period. Raleigh Capital Management Inc. acquired a new stake in GE Vernova during the 2nd quarter worth about $37,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova during the 1st quarter valued at about $27,000. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova in the first quarter valued at about $27,000. Finally, West Branch Capital LLC increased its holdings in shares of GE Vernova by 25.6% in the second quarter. West Branch Capital LLC now owns 98 shares of the company’s stock valued at $52,000 after purchasing an additional 20 shares during the period.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were 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 owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 0.4%

GEV stock opened at $599.62 on Monday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The firm has a market cap of $163.23 billion, a P/E ratio of 144.49, a PEG ratio of 4.34 and a beta of 1.72. The company’s 50-day simple moving average is $616.42 and its 200-day simple moving average is $522.14.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.GE Vernova’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 24.10%.

Wall Street Analyst Weigh In

GEV has been the topic of several research reports. Royal Bank Of Canada set a $605.00 price target on shares of GE Vernova and gave the stock a “sector perform” rating in a report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. UBS Group initiated coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a “buy” rating and a $614.00 price target on the stock. Robert W. Baird lifted their price objective on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, Barclays upped their target price on GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $592.61.

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.