Overbrook Management Corp Sells 7,381 Shares of GE Vernova Inc. $GEV

Key Points

• Overbrook Management Corp reduced its holdings in GE Vernova Inc. by 28.1%, selling 7,381 shares and now owns 18,883 shares, representing about 1.9% of its investment portfolio.
• GE Vernova reported a strong quarterly performance with earnings per share of $1.86, exceeding analysts' expectations of $1.63, and had a revenue increase of 11.1% year-over-year.
• The company declared a quarterly dividend of $0.25, scheduled for payment on November 17th, with an annualized yield of 0.2% and a dividend payout ratio of 24.10%.

Overbrook Management Corp reduced its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 28.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,883 shares of the company's stock after selling 7,381 shares during the quarter. GE Vernova accounts for approximately 1.9% of Overbrook Management Corp's investment portfolio, making the stock its 20th biggest holding. Overbrook Management Corp's holdings in GE Vernova were worth $9,992,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of GE Vernova by 1.8% in 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 during the period. Goldman Sachs Group Inc. raised its position in shares of GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after purchasing an additional 214,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of GE Vernova by 21.4% in 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 valued at $634,984,000 after purchasing an additional 367,150 shares during the period. Wellington Management Group LLP raised its position in shares of GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after purchasing an additional 684,794 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock valued at $591,333,000 after purchasing an additional 622,730 shares during the period.

GE Vernova Trading Down 0.4%

GEV opened at $605.21 on Monday. The company's 50 day moving average is $622.99 and its 200-day moving average is $491.47. GE Vernova Inc. has a 1-year low of $248.50 and a 1-year high of $677.29. The company has a market cap of $164.75 billion, a P/E ratio of 145.83, a PEG ratio of 4.41 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period last year, the company posted $4.65 EPS. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's dividend payout ratio (DPR) is 24.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research report on Friday, September 12th. HSBC raised their price target on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research report on Friday, September 5th. Susquehanna boosted their price target on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. The Goldman Sachs Group boosted their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus price target of $592.35.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is currently owned by company insiders.

About GE Vernova

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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