Chicago Capital LLC Grows Stock Position in GE Vernova Inc. (NYSE:GEV)

Chicago Capital LLC raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 9.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,101 shares of the company’s stock after purchasing an additional 433 shares during the period. Chicago Capital LLC’s holdings in GE Vernova were worth $1,678,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GEV. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova in the third quarter valued at approximately $2,507,296,000. International Assets Investment Management LLC lifted its stake in shares of GE Vernova by 35,238.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after purchasing an additional 1,431,729 shares during the period. WCM Investment Management LLC increased its stake in GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after purchasing an additional 1,161,901 shares during the last quarter. FMR LLC lifted its position in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of GE Vernova by 34.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after acquiring an additional 460,834 shares during the last quarter.

GE Vernova Stock Performance

NYSE GEV opened at $372.70 on Monday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The business’s fifty day moving average is $355.29 and its two-hundred day moving average is $279.25. The stock has a market capitalization of $102.74 billion and a P/E ratio of 67.03.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts forecast that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

Wall Street Analyst Weigh In

Several research analysts recently commented on GEV shares. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a report on Friday, January 24th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Citigroup boosted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Bank of America lifted their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $342.94.

GE Vernova Company Profile

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.