Sterling Investment Counsel LLC Makes New Investment in GE Vernova Inc. $GEV

Key Points

• Sterling Investment Counsel LLC has made a new investment in GE Vernova Inc., acquiring 549 shares valued at approximately $291,000 during the 2nd quarter.
• Analysts have increased their price targets for GE Vernova, with ratings ranging from "buy" to "strong-buy," reflecting growing confidence in the company's potential, leading to a consensus target price of $598.50.
• GE Vernova recently declared a quarterly dividend of $0.25, with an annualized yield of 0.2%, which will be paid on November 17th to investors of record by October 20th.

Sterling Investment Counsel LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 549 shares of the company's stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC grew its position in GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock worth $37,000 after purchasing an additional 18 shares during the period. Atlas Brown Inc. grew its position in GE Vernova by 0.8% during the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock worth $1,321,000 after purchasing an additional 19 shares during the period. Physician Wealth Advisors Inc. grew its position in GE Vernova by 9.0% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock worth $128,000 after purchasing an additional 20 shares during the period. West Branch Capital LLC grew its position in GE Vernova by 25.6% during the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company's stock worth $52,000 after purchasing an additional 20 shares during the period. Finally, Grove Bank & Trust grew its position in GE Vernova by 16.0% during the 2nd quarter. Grove Bank & Trust now owns 167 shares of the company's stock worth $88,000 after purchasing an additional 23 shares during the period.

Analyst Ratings Changes

Several brokerages have weighed in on GEV. Robert W. Baird increased their price target on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Glj Research initiated coverage on shares of GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating on the stock. TD Cowen increased their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Melius raised shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price on the stock in a research note on Monday, September 15th. Finally, Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Four 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $598.50.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company's stock.

GE Vernova Trading Up 0.1%

Shares of GE Vernova stock opened at $606.80 on Friday. The firm has a market capitalization of $165.18 billion, a PE ratio of 146.22, a P/E/G ratio of 4.42 and a beta of 1.72. GE Vernova Inc. has a twelve month low of $250.89 and a twelve month high of $677.29. The firm's 50-day moving average price is $624.20 and its 200 day moving average price is $496.99.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion for 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%. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 dividend on an annualized basis 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.

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