3Chopt Investment Partners LLC Lowers Stock Holdings in GE Vernova Inc. $GEV

3Chopt Investment Partners LLC reduced its position in GE Vernova Inc. (NYSE:GEV) by 67.8% in the 2nd quarter, Holdings Channel reports. The fund owned 784 shares of the company’s stock after selling 1,649 shares during the period. 3Chopt Investment Partners LLC’s holdings in GE Vernova were worth $415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEV. EQ Wealth Advisors LLC purchased a new stake in GE Vernova in the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova in the 1st quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after acquiring an additional 53 shares during the period. 1248 Management LLC purchased a new stake in GE Vernova in the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank acquired a new position in shares of GE Vernova in the 1st quarter valued at $33,000.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

GE Vernova Trading Down 4.4%

NYSE:GEV opened at $606.30 on Friday. The firm has a market capitalization of $165.05 billion, a price-to-earnings ratio of 146.10, a PEG ratio of 4.61 and a beta of 1.72. The firm’s fifty day simple moving average is $619.64 and its 200 day simple moving average is $508.47. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is currently 24.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Wells Fargo & Company lifted their price target on shares of GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, UBS Group assumed coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a “buy” rating and a $614.00 price target on the stock. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $598.50.

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.