GE Vernova Inc. $GEV Shares Sold by 3Chopt Investment Partners LLC

Key Points

• 3Chopt Investment Partners LLC reduced its stake in GE Vernova Inc. by 67.8%, owning 784 shares worth approximately $415,000 following the sale of 1,649 shares in the second quarter.
• GE Vernova reported a net margin of 3.16% and earnings of $1.86 per share, outperforming analyst expectations of $1.63, with revenue increasing by 11.1% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, expected to be paid on November 17th, representing an annualized dividend of $1.00 and a yield of 0.2%.

3Chopt Investment Partners LLC lowered its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 67.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 784 shares of the company's stock after selling 1,649 shares during the period. 3Chopt Investment Partners LLC's holdings in GE Vernova were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC acquired a new stake in GE Vernova in the first quarter valued at about $27,000. IMA Advisory Services Inc. acquired a new stake in GE Vernova in the first quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in GE Vernova by 115.2% in 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 during the period. 1248 Management LLC acquired a new stake in GE Vernova in the first quarter valued at about $31,000. Finally, Saudi Central Bank acquired a new stake in GE Vernova in the first quarter valued at about $33,000.

GE Vernova Price Performance

Shares of GEV opened at $606.30 on Friday. The firm has a 50 day simple moving average of $619.64 and a 200-day simple moving average of $508.47. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The stock has a market cap of $165.05 billion, a price-to-earnings ratio of 146.10, a price-to-earnings-growth ratio of 4.61 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data 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. 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 during the quarter, compared to analysts' expectations of $8.78 billion. During the same period last year, the company posted $4.65 EPS. The company's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GEV shares. BMO Capital Markets raised their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a "buy" rating in a research report on Monday, September 15th. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, TD Cowen lifted their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average price target of $598.50.

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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