Chapin Davis Inc. Has $1.15 Million Holdings in GE Vernova Inc. $GEV

Chapin Davis Inc. cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 47.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 981 shares of the company’s stock after selling 902 shares during the quarter. Chapin Davis Inc.’s holdings in GE Vernova were worth $1,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Fermata Advisors LLC raised its position in GE Vernova by 21.1% in the second quarter. Fermata Advisors LLC now owns 476 shares of the company’s stock valued at $559,000 after purchasing an additional 83 shares during the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of GE Vernova by 1.4% during the second quarter. 180 Wealth Advisors LLC now owns 3,555 shares of the company’s stock worth $4,177,000 after purchasing an additional 49 shares during the last quarter. Foster Group Inc. increased its stake in shares of GE Vernova by 8.0% in the second quarter. Foster Group Inc. now owns 582 shares of the company’s stock valued at $684,000 after buying an additional 43 shares during the period. Mirador Capital Partners LP increased its stake in shares of GE Vernova by 2.5% in the second quarter. Mirador Capital Partners LP now owns 408 shares of the company’s stock valued at $479,000 after buying an additional 10 shares during the period. Finally, Willner & Heller LLC raised its holdings in GE Vernova by 20.8% in the 2nd quarter. Willner & Heller LLC now owns 343 shares of the company’s stock valued at $403,000 after buying an additional 59 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Oppenheimer boosted their target price on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 price target on shares of GE Vernova in a research note on Friday, April 24th. Morgan Stanley lowered shares of GE Vernova from an “overweight” rating to an “underweight” rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada lifted their target price on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. 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 given a Sell rating to the company. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

Insider Activity

In related news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

GE Vernova Trading Up 0.1%

GEV opened at $1,019.48 on Thursday. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $1,026.14 and a 200-day moving average of $942.64. The stock has a market cap of $271.52 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 3.63 and a beta of 1.21.

GE Vernova (NYSE:GEV) last released 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 firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.86 EPS. On average, sell-side analysts predict that GE Vernova Inc. will post 15.57 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova’s payout ratio is currently 5.72%.

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.