Chung Wu Investment Group LLC Sells 369 Shares of GE Vernova Inc. $GEV

Chung Wu Investment Group LLC reduced its stake in GE Vernova Inc. (NYSE:GEV) by 16.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,902 shares of the company’s stock after selling 369 shares during the quarter. GE Vernova makes up approximately 1.0% of Chung Wu Investment Group LLC’s holdings, making the stock its 22nd biggest holding. Chung Wu Investment Group LLC’s holdings in GE Vernova were worth $1,006,000 at the end of the most recent reporting period.

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

Insider Transactions at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GEV shares. Jefferies Financial Group increased their price target on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Royal Bank Of Canada set a $605.00 target price on GE Vernova and gave the stock a “sector perform” rating in a report on Wednesday. Robert W. Baird lifted their price target on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Finally, Seaport Res Ptn raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, July 10th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $598.50.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $595.07 on Monday. The stock has a market cap of $161.99 billion, a price-to-earnings ratio of 143.39, a P/E/G ratio of 4.33 and a beta of 1.72. The company has a 50 day moving average of $623.21 and a 200-day moving average of $501.17. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

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.