Chapin Davis Inc. lessened its stake in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 47.9% during the second quarter, Holdings Channel.com reports. The firm owned 981 shares of the company’s stock after selling 902 shares during the period. Chapin Davis Inc.’s holdings in GE Vernova were worth $1,153,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Cornerstone Financial Management LLC bought a new position in GE Vernova in the fourth quarter worth approximately $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the third quarter valued at approximately $25,000. Torren Management LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC raised its position in shares of GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after purchasing an additional 13 shares during the period. Finally, Navalign LLC acquired a new position in shares of GE Vernova during the fourth quarter worth approximately $27,000.
Analysts Set New Price Targets
A number of brokerages have commented on GEV. Oppenheimer boosted their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Citigroup lifted their price objective on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a report on Monday, April 13th. The Goldman Sachs Group reissued a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a research report on Friday, April 24th. Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of GE Vernova in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average target price of $1,133.15.
GE Vernova Stock Up 0.1%
GEV stock opened at $1,019.48 on Thursday. The stock has a market cap of $271.52 billion, a P/E ratio of 29.18, a P/E/G ratio of 3.63 and a beta of 1.21. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $1,026.14 and its two-hundred day simple moving average is $942.64. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94.
GE Vernova (NYSE:GEV – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The business had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.86 earnings per share. Analysts expect that GE Vernova Inc. will post 15.57 EPS for the current year.
GE Vernova Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is currently 5.72%.
Insider Transactions at GE Vernova
In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.
GE Vernova Company 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.
Read More
- Five stocks we like better than GE Vernova
- SpaceX: Love the Company, But the Stock Is a Harder Call
- Ulta’s Growth Is Real, But So Are the Risks
- BWX Technologies Is Turning the AI Power Problem Into a Nuclear Growth Story
- Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth
Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV – Free Report).
Receive News & Ratings for GE Vernova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GE Vernova and related companies with MarketBeat.com's FREE daily email newsletter.
