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

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

A number of other institutional investors have also made changes to their positions in GEV. World Investment Advisors grew its stake in GE Vernova by 19.9% in the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after buying an additional 2,241 shares during the last quarter. Merit Financial Group LLC lifted its position in GE Vernova by 17.4% during the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after acquiring an additional 2,230 shares during the last quarter. Vest Financial LLC boosted its holdings in shares of GE Vernova by 56.7% during the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock worth $43,260,000 after acquiring an additional 23,956 shares during the period. Riverbend Wealth Management LLC bought a new stake in shares of GE Vernova during the fourth quarter worth approximately $567,000. Finally, RiverFront Investment Group LLC grew its position in shares of GE Vernova by 239.2% in the fourth quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after purchasing an additional 1,545 shares during the last quarter.

GE Vernova Trading Down 0.1%

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

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the company earned $0.91 EPS. GE Vernova’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities analysts anticipate that GE Vernova Inc. will post 15.06 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. 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 payout ratio is 5.83%.

Insider Activity at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’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 approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent research reports. Zacks Research lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Citigroup boosted their price target on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Robert W. Baird upped their price objective on GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. TD Cowen increased their price objective on GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Three investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,089.88.

About GE Vernova

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.