Sterling Investment Counsel LLC Raises Stock Position in GE Vernova Inc. $GEV

Sterling Investment Counsel LLC grew its position in GE Vernova Inc. (NYSE:GEV) by 429.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,905 shares of the company’s stock after buying an additional 2,356 shares during the period. Sterling Investment Counsel LLC’s holdings in GE Vernova were worth $1,786,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GEV. Silver Oak Securities Incorporated lifted its holdings in GE Vernova by 34.4% in the third quarter. Silver Oak Securities Incorporated now owns 1,192 shares of the company’s stock valued at $733,000 after acquiring an additional 305 shares during the last quarter. OMC Financial Services LTD increased its stake in GE Vernova by 9.5% during the third quarter. OMC Financial Services LTD now owns 6,142 shares of the company’s stock worth $3,777,000 after acquiring an additional 532 shares during the last quarter. CMH Wealth Management LLC raised its position in GE Vernova by 0.4% in the third quarter. CMH Wealth Management LLC now owns 14,711 shares of the company’s stock valued at $9,046,000 after purchasing an additional 60 shares during the period. Generali Asset Management SPA SGR lifted its stake in shares of GE Vernova by 45.0% in the 3rd quarter. Generali Asset Management SPA SGR now owns 15,196 shares of the company’s stock valued at $9,344,000 after purchasing an additional 4,715 shares during the last quarter. Finally, True Wealth Design LLC grew its holdings in shares of GE Vernova by 12.6% during the 3rd quarter. True Wealth Design LLC now owns 170 shares of the company’s stock worth $105,000 after purchasing an additional 19 shares during the period.

GE Vernova Stock Down 1.0%

Shares of GEV opened at $653.24 on Friday. The company has a market cap of $177.24 billion, a P/E ratio of 106.39, a PEG ratio of 4.98 and a beta of 1.67. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00. The firm’s 50 day moving average price is $610.93 and its 200 day moving average price is $599.39.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the firm earned ($0.35) EPS. The business’s revenue was up 11.8% on a year-over-year basis. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is presently 16.29%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GEV shares. Jefferies Financial Group set a $830.00 price objective on shares of GE Vernova in a report on Monday, December 22nd. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Morgan Stanley increased their price objective on shares of GE Vernova from $710.00 to $822.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Mizuho cut their target price on GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Finally, Bank of America upped their price target on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $691.11.

GE Vernova Company 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.