Highland Capital Management LLC Trims Stock Position in GE Vernova Inc. $GEV

Highland Capital Management LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 29.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 institutional investors and hedge funds have also recently bought and sold shares of GEV. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova in the first quarter worth $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova during the 1st quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC purchased a new position in GE Vernova in the 1st quarter valued at about $31,000. Finally, Saudi Central Bank acquired a new stake in shares of GE Vernova during the 1st quarter worth about $33,000.

GE Vernova Stock Down 1.8%

Shares of GEV stock opened at $595.07 on Friday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The firm’s 50 day moving average price is $623.21 and its two-hundred day moving average price is $500.03. The stock has a market cap of $161.99 billion, a price-to-earnings ratio of 143.39, a price-to-earnings-growth ratio of 4.34 and a beta of 1.72.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

GEV has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price objective on shares of GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Susquehanna increased their price target on GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research note on Thursday, July 24th. Robert W. Baird lifted their price objective on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company upped their target price on GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.50.

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.