Overbrook Management Corp Invests $8.02 Million in GE Vernova Inc. (NYSE:GEV)

Overbrook Management Corp bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 26,264 shares of the company's stock, valued at approximately $8,018,000. GE Vernova accounts for about 1.9% of Overbrook Management Corp's investment portfolio, making the stock its 20th biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of GEV. Wealth Enhancement Advisory Services LLC increased its stake in GE Vernova by 79.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock valued at $67,622,000 after acquiring an additional 98,034 shares during the last quarter. Grandview Asset Management LLC lifted its holdings in shares of GE Vernova by 48.8% during the first quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock worth $656,000 after purchasing an additional 705 shares during the period. State of Alaska Department of Revenue lifted its holdings in GE Vernova by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 32,340 shares of the company's stock valued at $9,872,000 after buying an additional 910 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in GE Vernova by 21.3% in the first quarter. Flagship Harbor Advisors LLC now owns 2,435 shares of the company's stock valued at $743,000 after buying an additional 427 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its holdings in GE Vernova by 104.7% in the first quarter. Dynamic Advisor Solutions LLC now owns 8,661 shares of the company's stock valued at $2,644,000 after buying an additional 4,429 shares during the period.

GE Vernova Price Performance

Shares of GEV opened at $520.56 on Friday. GE Vernova Inc. has a one year low of $150.01 and a one year high of $532.59. The company has a 50-day simple moving average of $443.89 and a two-hundred day simple moving average of $376.51. The firm has a market capitalization of $142.08 billion, a PE ratio of 75.01, a price-to-earnings-growth ratio of 3.94 and a beta of 1.97.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the business posted ($0.47) earnings per share. GE Vernova's quarterly revenue was up 10.6% compared to the same quarter last year. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.19%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is currently 14.41%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GEV shares. TD Cowen dropped their price objective on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Robert W. Baird upped their target price on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen upgraded shares of GE Vernova from a "hold" rating to a "buy" rating in a report on Friday. Finally, Truist Financial set a $440.00 target price on shares of GE Vernova in a report on Thursday, March 27th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $429.13.

GE Vernova 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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