Chatham Capital Group Inc. Decreases Position in GE Vernova Inc. $GEV

Key Points

• Chatham Capital Group Inc. reduced its stake in GE Vernova Inc. by 3.2% during the 2nd quarter, now holding 24,632 shares valued at approximately $13 million.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, set to be paid on November 17th, representing an annualized yield of 0.2%.
• Analysts have mixed ratings on GE Vernova, with four giving a Strong Buy rating, while others have downgraded their targets and overall consensus remains a "Moderate Buy."

Chatham Capital Group Inc. cut its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,632 shares of the company's stock after selling 818 shares during the quarter. GE Vernova accounts for about 2.0% of Chatham Capital Group Inc.'s holdings, making the stock its 10th biggest holding. Chatham Capital Group Inc.'s holdings in GE Vernova were worth $13,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GEV. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova during the 1st quarter worth $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova during the first quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC raised its position in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC purchased a new stake in GE Vernova during the first quarter valued at about $31,000. Finally, Saudi Central Bank bought a new stake in GE Vernova during the first quarter worth about $33,000.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.15% of the company's stock.

GE Vernova Price Performance

Shares of GEV opened at $605.21 on Friday. The company has a 50-day simple moving average of $622.99 and a two-hundred day simple moving average of $490.14. The firm has a market capitalization of $164.75 billion, a PE ratio of 145.83, a price-to-earnings-growth ratio of 4.41 and a beta of 1.87. GE Vernova Inc. has a one year low of $248.50 and a one year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its 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 firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GEV. Mizuho lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective on the stock. in a research report on Monday, July 28th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Susquehanna increased their price target on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Finally, BMO Capital Markets upped their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average price target of $592.35.

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.

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