Highland Capital Management LLC Reduces Holdings in GE Vernova Inc. $GEV

Highland Capital Management LLC reduced its position in GE Vernova Inc. (NYSE:GEV) by 29.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 22,277 shares of the company’s stock after selling 9,461 shares during the period. Highland Capital Management LLC’s holdings in GE Vernova were worth $11,788,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC boosted its holdings in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of GE Vernova by 65.4% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 574 shares of the company’s stock valued at $175,000 after purchasing an additional 227 shares in the last quarter. IAM Advisory LLC purchased a new position in shares of GE Vernova during the 1st quarter valued at approximately $582,000. Radnor Capital Management LLC grew its position in shares of GE Vernova by 0.4% during the first quarter. Radnor Capital Management LLC now owns 16,309 shares of the company’s stock worth $4,979,000 after buying an additional 66 shares in the last quarter. Finally, Gateway Investment Advisers LLC grew its position in shares of GE Vernova by 181.8% during the first quarter. Gateway Investment Advisers LLC now owns 46,710 shares of the company’s stock worth $14,260,000 after buying an additional 30,135 shares in the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of research analyst reports. UBS Group began coverage on shares of GE Vernova in a research note on Monday, July 7th. They set a “buy” rating and a $614.00 price objective on the stock. Susquehanna increased their price target on shares of GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Royal Bank Of Canada set a $605.00 price objective on GE Vernova and gave the company a “sector perform” rating in a report on Wednesday. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective on the stock in a research note on Monday, September 15th. Finally, Citigroup lifted their target price on GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $598.50.

Insider Transactions at GE Vernova

In other 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 transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 1.8%

Shares of NYSE GEV opened at $595.07 on Friday. The firm’s 50-day moving average price is $623.21 and its two-hundred day moving average price is $500.03. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The stock has a market capitalization of $161.99 billion, a P/E ratio of 143.39, a P/E/G ratio of 4.34 and a beta of 1.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts expect 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 given 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 (DPR) is currently 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.