Chicago Partners Investment Group LLC Has $8.89 Million Stake in GE Vernova Inc. $GEV

Chicago Partners Investment Group LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 9.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,180 shares of the company’s stock after buying an additional 894 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in GE Vernova were worth $8,886,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Auto Owners Insurance Co grew its holdings in GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after purchasing an additional 34,826,773 shares during the period. Vanguard Group Inc. boosted its position in shares of GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after purchasing an additional 208,162 shares in the last quarter. State Street Corp grew its holdings in shares of GE Vernova by 2.1% in the 4th quarter. State Street Corp now owns 11,469,670 shares of the company’s stock valued at $7,496,232,000 after buying an additional 231,392 shares during the period. Geode Capital Management LLC increased its position in shares of GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock valued at $4,074,039,000 after buying an additional 68,894 shares in the last quarter. Finally, Morgan Stanley raised its stake in GE Vernova by 12.8% during the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock worth $3,957,024,000 after buying an additional 685,466 shares during the period.

Insiders Place Their Bets

In related news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on GEV shares. Royal Bank Of Canada boosted their target price on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,328.00 price objective on shares of GE Vernova in a research report on Friday, April 24th. Weiss Ratings upgraded shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Robert W. Baird lifted their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Finally, TD Cowen lifted their price target on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,089.88.

GE Vernova Stock Performance

GEV opened at $1,090.64 on Monday. The business’s 50-day simple moving average is $1,040.14 and its 200 day simple moving average is $896.97. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The firm has a market capitalization of $293.08 billion, a PE ratio of 31.77, a PEG ratio of 4.03 and a beta of 1.09.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business’s revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. As a group, sell-side analysts expect that GE Vernova Inc. will post 15.06 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.