Sterling Capital Management LLC Acquires 6,310 Shares of GE Vernova Inc. $GEV

Sterling Capital Management LLC raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 48.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,422 shares of the company’s stock after purchasing an additional 6,310 shares during the quarter. Sterling Capital Management LLC’s holdings in GE Vernova were worth $10,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sachetta LLC lifted its stake in shares of GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after buying an additional 16 shares during the last quarter. AMG National Trust Bank raised its holdings in GE Vernova by 1.5% in the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after acquiring an additional 17 shares during the period. Highline Wealth Partners LLC raised its holdings in GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares during the period. Atlas Brown Inc. lifted its position in GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock worth $1,321,000 after acquiring an additional 19 shares during the last quarter. Finally, Princeton Global Asset Management LLC boosted its holdings in shares of GE Vernova by 14.4% during the second quarter. Princeton Global Asset Management LLC now owns 151 shares of the company’s stock worth $80,000 after acquiring an additional 19 shares during the period.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Stock Down 1.8%

GEV stock opened at $549.81 on Friday. The company’s 50-day moving average price is $603.35 and its two-hundred day moving average price is $546.47. The firm has a market cap of $149.17 billion, a P/E ratio of 89.55, a P/E/G ratio of 4.16 and a beta of 1.68. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion for 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 business’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the company posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 16.29%.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent research reports. Morgan Stanley increased their target price on GE Vernova from $690.00 to $710.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. TD Cowen decreased their price objective on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. HSBC increased their price objective on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Citigroup dropped their target price on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Finally, Rothschild & Co Redburn restated a “sell” rating and issued a $475.00 price target on shares of GE Vernova in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $607.81.

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.