Chancellor Financial Group WB LP Purchases 256 Shares of GE Vernova Inc. $GEV

Chancellor Financial Group WB LP grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 33.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,025 shares of the company’s stock after acquiring an additional 256 shares during the period. Chancellor Financial Group WB LP’s holdings in GE Vernova were worth $542,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of GE Vernova during the 1st quarter worth approximately $912,000. Pines Wealth Management LLC acquired a new position in shares of GE Vernova during the 2nd quarter valued at $408,000. Resona Asset Management Co. Ltd. lifted its position in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after acquiring an additional 6,551 shares during the period. Dupree Financial Group LLC bought a new position in GE Vernova during the second quarter worth $253,000. Finally, Lockheed Martin Investment Management Co. acquired a new stake in GE Vernova in the first quarter worth $458,000.

Analyst Ratings Changes

GEV has been the topic of several research reports. BMO Capital Markets upped their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Mizuho decreased their target price on GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Bank of America upped their price target on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Finally, Robert W. Baird raised their price objective on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Stock Performance

GEV stock opened at $575.61 on Friday. The company has a market capitalization of $156.18 billion, a P/E ratio of 93.75, a price-to-earnings-growth ratio of 4.09 and a beta of 1.68. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The business has a 50-day simple moving average of $602.58 and a two-hundred day simple moving average of $548.30.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period last year, the company earned ($0.35) earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio is presently 16.29%.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction 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 transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.15% of the company’s stock.

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.