Chung Wu Investment Group LLC Has $693,000 Stake in GE Vernova Inc. (NYSE:GEV)

Chung Wu Investment Group LLC raised its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 33.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,271 shares of the company's stock after acquiring an additional 575 shares during the quarter. GE Vernova makes up approximately 0.8% of Chung Wu Investment Group LLC's investment portfolio, making the stock its 29th largest position. Chung Wu Investment Group LLC's holdings in GE Vernova were worth $693,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GEV. Western Wealth Management LLC lifted its stake in GE Vernova by 26.5% in the 1st quarter. Western Wealth Management LLC now owns 3,603 shares of the company's stock valued at $1,100,000 after purchasing an additional 754 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of GE Vernova by 5.1% during the first quarter. Robeco Institutional Asset Management B.V. now owns 87,135 shares of the company's stock worth $26,601,000 after buying an additional 4,255 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of GE Vernova by 6.8% during the first quarter. Sequoia Financial Advisors LLC now owns 23,348 shares of the company's stock worth $7,128,000 after buying an additional 1,480 shares in the last quarter. Terra Nova Asset Management LLC lifted its stake in shares of GE Vernova by 13.9% in the 1st quarter. Terra Nova Asset Management LLC now owns 7,046 shares of the company's stock valued at $2,151,000 after acquiring an additional 859 shares during the last quarter. Finally, Wealth Effects LLC acquired a new stake in shares of GE Vernova during the 1st quarter valued at $347,000.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup lowered their target price on GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Truist Financial set a $440.00 price objective on GE Vernova in a research note on Thursday, March 27th. Bank of America raised their price objective on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. BMO Capital Markets boosted their target price on shares of GE Vernova from $381.00 to $522.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Finally, Susquehanna restated a "positive" rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $429.13.

GE Vernova Stock Performance

GE Vernova stock opened at $502.99 on Thursday. The stock has a market capitalization of $137.28 billion, a price-to-earnings ratio of 72.48, a PEG ratio of 3.97 and a beta of 1.97. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $522.97. The stock's 50 day moving average price is $436.25 and its two-hundred day moving average price is $374.00.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the business posted ($0.47) EPS. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. GE Vernova's dividend payout ratio is presently 14.41%.

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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