Chapin Davis Inc. Purchases 980 Shares of GE Vernova Inc. $GEV

Chapin Davis Inc. increased its holdings in GE Vernova Inc. (NYSE:GEV) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,303 shares of the company’s stock after purchasing an additional 980 shares during the period. GE Vernova makes up about 1.9% of Chapin Davis Inc.’s investment portfolio, making the stock its 14th largest position. Chapin Davis Inc.’s holdings in GE Vernova were worth $7,565,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of GE Vernova by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after buying an additional 271,958 shares during the last quarter. State Street Corp lifted its holdings in shares of GE Vernova by 1.9% in the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after acquiring an additional 206,650 shares during the last quarter. Geode Capital Management LLC grew its position in GE Vernova by 2.2% in the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after acquiring an additional 129,315 shares in the last quarter. Norges Bank bought a new stake in GE Vernova during the second quarter worth approximately $1,809,220,000. Finally, Invesco Ltd. increased its stake in GE Vernova by 26.3% during the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock worth $1,173,262,000 after acquiring an additional 462,038 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently issued reports on GEV. Susquehanna raised their price objective on GE Vernova from $750.00 to $775.00 and gave the company a “positive” rating in a research note on Wednesday, December 10th. Oppenheimer upgraded GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 price target on the stock in a report on Wednesday, December 10th. Bank of America lifted their price objective on shares of GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Barclays boosted their price objective on shares of GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Morgan Stanley raised their target price on shares of GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a report on Tuesday. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $690.56.

GE Vernova Stock Performance

GE Vernova stock opened at $638.26 on Friday. The company has a market capitalization of $173.17 billion, a PE ratio of 103.95, a P/E/G ratio of 4.68 and a beta of 1.71. The company has a 50 day moving average price of $600.14 and a 200-day moving average price of $587.06. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the company earned ($0.35) EPS. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a $0.50 dividend. The ex-dividend date is Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio is presently 32.57%.

GE Vernova 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.