Overbrook Management Corp Cuts Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Overbrook Management reduced its GE Vernova position by 12.4% in the second quarter, selling 1,864 shares and retaining 13,121 shares valued at approximately $15.4 million.
• GE Vernova reported quarterly EPS of $2.47, below the $3.17 analyst consensus, while revenue of $11.1 billion exceeded expectations and rose 21.9% year over year.
• Despite the earnings miss and CEO stock sale, analyst sentiment remains positive: GE Vernova has a “Moderate Buy” consensus rating and an average price target of $1,133.15.

Overbrook Management Corp lowered its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 12.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,121 shares of the company's stock after selling 1,864 shares during the period. GE Vernova comprises approximately 2.3% of Overbrook Management Corp's holdings, making the stock its 16th largest position. Overbrook Management Corp's holdings in GE Vernova were worth $15,415,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Cornerstone Financial Management LLC purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at approximately $25,000. Torren Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC boosted its stake in shares of GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after buying an additional 13 shares in the last quarter. Finally, Navalign LLC acquired a new position in GE Vernova during the fourth quarter worth $27,000.

GE Vernova Stock Performance

NYSE GEV opened at $1,082.30 on Tuesday. The business has a 50 day moving average price of $1,037.03 and a 200 day moving average price of $962.56. The company has a market capitalization of $288.25 billion, a P/E ratio of 30.98, a PEG ratio of 3.79 and a beta of 1.21. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.86 earnings per share. Sell-side analysts expect that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GEV shares. Jefferies Financial Group reiterated a "buy" rating on shares of GE Vernova in a research report on Monday, July 27th. Mizuho upped their price target on shares of GE Vernova from $913.00 to $949.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. TD Cowen upped their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Vernova in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,133.15.

About GE Vernova

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.

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