Sterling Capital Management LLC Sells 4,677 Shares of GE Vernova Inc. $GEV

Sterling Capital Management LLC cut its position in GE Vernova Inc. (NYSE:GEV) by 40.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 6,769 shares of the company’s stock after selling 4,677 shares during the period. Sterling Capital Management LLC’s holdings in GE Vernova were worth $5,909,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Torren Management LLC acquired a new position in shares of GE Vernova in the fourth quarter valued at approximately $26,000. Cornerstone Financial Management LLC acquired a new stake in GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new stake in GE Vernova during the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC grew its holdings in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after acquiring an additional 29 shares during the last quarter. Finally, Navalign LLC bought a new stake in GE Vernova during the 4th quarter worth approximately $27,000.

GE Vernova Stock Performance

NYSE:GEV opened at $1,045.74 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a twelve month low of $482.20 and a twelve month high of $1,181.95. The company has a fifty day moving average of $1,031.16 and a 200-day moving average of $863.97. The firm has a market capitalization of $281.01 billion, a P/E ratio of 30.46, a P/E/G ratio of 3.87 and a beta of 1.23.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio is 5.83%.

Insider Activity

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent research reports. Zacks Research cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Citigroup increased their price objective on GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Robert W. Baird raised their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Finally, Weiss Ratings upgraded GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $1,089.88.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.