Chapin Davis Inc. Raises Stake in GE Vernova Inc. $GEV

Key Points

• Chapin Davis Inc. significantly increased its holdings in GE Vernova Inc. by 964.2% in the second quarter, now owning 11,323 shares valued at approximately $5.99 million.
• GE Vernova Inc. reported a quarterly earnings per share (EPS) of $1.86, exceeding expectations and reflecting an 11.1% revenue increase year-over-year.
• Recent analysts have adjusted their price targets for GE Vernova, with estimates ranging from $580.00 to $715.00, reflecting a generally positive outlook on the stock.

Chapin Davis Inc. grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 964.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,323 shares of the company's stock after purchasing an additional 10,259 shares during the period. GE Vernova makes up 1.7% of Chapin Davis Inc.'s portfolio, making the stock its 14th biggest position. Chapin Davis Inc.'s holdings in GE Vernova were worth $5,992,000 at the end of the most recent quarter.

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

GE Vernova Stock Up 3.1%

NYSE:GEV traded up $19.50 during trading hours on Monday, reaching $643.67. The company had a trading volume of 2,528,298 shares, compared to its average volume of 2,758,330. The firm has a market cap of $175.22 billion, a price-to-earnings ratio of 155.10, a P/E/G ratio of 4.55 and a beta of 1.88. The business's 50-day simple moving average is $618.88 and its two-hundred day simple moving average is $482.23. GE Vernova Inc. has a twelve month low of $246.79 and a twelve month high of $677.29.

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

Analysts Set New Price Targets

GEV has been the topic of a number of research analyst reports. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Wells Fargo & Company upped their target price on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. BMO Capital Markets upped their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Morgan Stanley upped their target price on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Robert W. Baird upped their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $592.35.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by insiders.

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.