3Chopt Investment Partners LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

3Chopt Investment Partners LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,433 shares of the company's stock, valued at approximately $743,000.

Other hedge funds have also recently bought and sold shares of the company. MRP Capital Investments LLC purchased a new position in GE Vernova during the 4th quarter worth $25,000. Fairway Wealth LLC boosted its holdings in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Navigoe LLC purchased a new position in GE Vernova during the 4th quarter worth $27,000. EQ Wealth Advisors LLC purchased a new position in GE Vernova during the 1st quarter worth $27,000. Finally, Clarity Asset Management Inc. purchased a new position in GE Vernova during the 4th quarter worth $28,000.

Analysts Set New Price Targets

GEV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $430.00 to $460.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Susquehanna reissued a "positive" rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. TD Cowen cut their price target on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Citigroup cut their price target on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Wall Street Zen raised shares of GE Vernova from a "hold" rating to a "buy" rating in a report on Friday. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $429.13.

GE Vernova Price Performance

NYSE GEV traded up $13.75 on Friday, reaching $520.56. 9,147,914 shares of the company's stock traded hands, compared to its average volume of 3,290,915. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $532.59. The stock has a 50-day simple moving average of $443.89 and a 200 day simple moving average of $376.74. The stock has a market cap of $142.08 billion, a PE ratio of 75.01, a P/E/G ratio of 4.03 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the business earned ($0.47) earnings per share. The business's quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's payout ratio is currently 14.41%.

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.