Sovereign Financial Group Inc. Has $994,000 Stock Holdings in GE Vernova Inc. $GEV

Sovereign Financial Group Inc. trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 11.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,879 shares of the company’s stock after selling 249 shares during the quarter. Sovereign Financial Group Inc.’s holdings in GE Vernova were worth $994,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after purchasing an additional 432,830 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after acquiring an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after acquiring an additional 367,150 shares during the last quarter. Wellington Management Group LLP raised its position in shares of GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after acquiring an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after acquiring an additional 622,730 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GEV shares. Morgan Stanley raised their price objective on GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, Mizuho downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 target price for the company. in a report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $598.50.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Stock Down 4.4%

NYSE GEV opened at $606.30 on Friday. The company has a market cap of $165.05 billion, a price-to-earnings ratio of 146.10, a P/E/G ratio of 4.40 and a beta of 1.72. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The business has a 50 day moving average price of $619.64 and a 200-day moving average price of $509.80.

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

GE Vernova Announces Dividend

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