CHICAGO TRUST Co NA Has $794,000 Position in GE Vernova Inc. $GEV

Key Points

• CHICAGO TRUST Co NA reduced its stake in GE Vernova Inc. by 32.7%, holding 1,500 shares valued at $794,000.
• Analysts remain optimistic about GE Vernova, with four giving a Strong Buy rating and an average price target of $592.35, which reflects a potential upside from recent trading levels.
• GE Vernova's recent earnings report showed an EPS of $1.86, exceeding expectations and illustrating a year-over-year revenue increase of 11.1%.

CHICAGO TRUST Co NA cut its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 32.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,500 shares of the company's stock after selling 730 shares during the quarter. CHICAGO TRUST Co NA's holdings in GE Vernova were worth $794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after buying an additional 432,830 shares during the period. Goldman Sachs Group Inc. lifted its holdings in GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after buying an additional 214,483 shares during the period. GAMMA Investing LLC lifted its holdings in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock worth $634,984,000 after buying an additional 367,150 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after buying an additional 684,794 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GEV shares. Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. HSBC boosted their price objective on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a research note on Friday, September 5th. Morgan Stanley boosted their price objective on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price objective on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Jefferies Financial Group boosted their price objective on GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research note on Friday, September 12th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Stock Performance

Shares of GEV opened at $633.65 on Wednesday. The stock has a 50 day moving average price of $620.35 and a two-hundred day moving average price of $483.28. The firm has a market capitalization of $172.49 billion, a P/E ratio of 152.69, a P/E/G ratio of 4.70 and a beta of 1.87. GE Vernova Inc. has a 52 week low of $247.07 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released 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 during 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%.GE Vernova's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Company 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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