Chicago Partners Investment Group LLC Raises Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Chicago Partners Investment Group LLC increased its stake in GE Vernova Inc. by 11.2% in Q2, now owning 8,535 shares valued at approximately $4.52 million.
• GE Vernova's CFO sold 3,300 shares of stock for $2.05 million, reducing their ownership by 30.30%.
• The company is set to pay a quarterly dividend of $0.25 on November 17th, reflecting a 0.2% yield.

Chicago Partners Investment Group LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 11.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,535 shares of the company's stock after acquiring an additional 860 shares during the quarter. Chicago Partners Investment Group LLC's holdings in GE Vernova were worth $4,516,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GEV. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova during the first quarter worth $27,000. IMA Advisory Services Inc. purchased a new position in GE Vernova in the 1st quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after buying an additional 53 shares during the period. 1248 Management LLC bought a new stake in GE Vernova during the 1st quarter valued at about $31,000. Finally, Saudi Central Bank purchased a new stake in GE Vernova in the 1st quarter valued at about $33,000.

Insider Transactions at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company's stock.

GE Vernova Price Performance

Shares of NYSE GEV opened at $599.62 on Monday. The stock has a market capitalization of $163.23 billion, a P/E ratio of 144.49, a price-to-earnings-growth ratio of 4.34 and a beta of 1.72. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The business has a fifty day moving average price of $616.42 and a 200 day moving average price of $522.14.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

GEV has been the subject of several research analyst reports. Bank of America lifted their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Redburn Partners set a $475.00 target price on GE Vernova in a research report on Wednesday. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Robert W. Baird raised their price target 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, Susquehanna lifted their price objective on GE Vernova from $736.00 to $740.00 and gave the company a "positive" rating in a report on Monday, October 13th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $592.61.

About GE Vernova

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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