Chatham Capital Group Inc. Sells 793 Shares of GE Vernova Inc. (NYSE:GEV)

Chatham Capital Group Inc. reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.0% in the 1st quarter, Holdings Channel reports. The firm owned 25,450 shares of the company’s stock after selling 793 shares during the quarter. GE Vernova accounts for 1.3% of Chatham Capital Group Inc.’s investment portfolio, making the stock its 18th largest holding. Chatham Capital Group Inc.’s holdings in GE Vernova were worth $7,769,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Principal Securities Inc. raised its position in shares of GE Vernova by 29.0% during the fourth quarter. Principal Securities Inc. now owns 1,892 shares of the company’s stock worth $622,000 after acquiring an additional 425 shares during the last quarter. New York State Teachers Retirement System increased its position in GE Vernova by 3.1% during the 4th quarter. New York State Teachers Retirement System now owns 242,128 shares of the company’s stock valued at $79,643,000 after purchasing an additional 7,373 shares during the period. Entropy Technologies LP bought a new position in GE Vernova during the 4th quarter worth approximately $4,964,000. Schear Investment Advisers LLC lifted its position in shares of GE Vernova by 10.4% in the 4th quarter. Schear Investment Advisers LLC now owns 9,399 shares of the company’s stock worth $3,092,000 after purchasing an additional 888 shares during the period. Finally, Apollon Wealth Management LLC lifted its position in shares of GE Vernova by 13.3% in the 4th quarter. Apollon Wealth Management LLC now owns 7,932 shares of the company’s stock worth $2,609,000 after purchasing an additional 933 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on shares of GE Vernova from $381.00 to $522.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Royal Bank of Canada decreased their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Morgan Stanley reissued an “overweight” rating and issued a $422.00 price objective (up from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $385.78.

GE Vernova Price Performance

Shares of GEV stock opened at $488.36 on Thursday. The firm has a 50-day moving average of $382.72 and a 200-day moving average of $358.53. GE Vernova Inc. has a one year low of $150.01 and a one year high of $500.72. The company has a market cap of $133.29 billion, a P/E ratio of 87.83, a P/E/G ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company posted ($0.47) earnings per share. GE Vernova’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Thursday, April 17th. GE Vernova’s payout ratio is currently 14.41%.

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.