GE Vernova Inc. (NYSE:GEV) Shares Bought by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group LLC increased its stake in GE Vernova Inc. by 18.3%, holding 7,675 shares valued at $2,343,000 after acquiring an additional 1,186 shares.
• Several analysts have recently adjusted their ratings and price targets for GE Vernova, with Citigroup raising its target from $544.00 to $670.00 and JPMorgan Chase & Co. up from $620.00 to $715.00.
• The company recently reported earnings of $1.86 per share, exceeding expectations, with revenue of $9.11 billion for the quarter, up 11.1% from last year.

Chicago Partners Investment Group LLC increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 18.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,675 shares of the company's stock after acquiring an additional 1,186 shares during the period. Chicago Partners Investment Group LLC's holdings in GE Vernova were worth $2,343,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in GE Vernova by 1.8% during the 1st 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 in the last quarter. Capital International Investors lifted its holdings in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after buying an additional 2,994,660 shares during the period. Goldman Sachs Group Inc. boosted its stake in GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after buying an additional 214,483 shares in the last quarter. Northern Trust Corp grew its holdings in GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after acquiring an additional 343,837 shares during the period. Finally, GAMMA Investing LLC raised its position in GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GEV shares. Citigroup raised their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and lifted their price target for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Robert W. Baird upped their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. TD Cowen upped their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Trading Down 2.8%

Shares of NYSE:GEV opened at $646.22 on Friday. GE Vernova Inc. has a 1-year low of $165.05 and a 1-year high of $677.29. The business's 50 day moving average is $544.98 and its 200-day moving average is $422.95. The firm has a market capitalization of $175.91 billion, a PE ratio of 155.71, a PEG ratio of 4.59 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.65 earnings per share. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.