GE Vernova Inc. $GEV Shares Sold by Overbrook Management Corp

Overbrook Management Corp trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 12.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 biggest holding. Overbrook Management Corp’s holdings in GE Vernova were worth $15,415,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of GEV. Cornerstone Financial Management LLC acquired a new stake in GE Vernova during the 4th quarter valued at $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova during the third quarter worth $25,000. Torren Management LLC acquired a new position in shares of GE Vernova in the fourth quarter worth $26,000. Manning & Napier Advisors LLC raised its holdings 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 worth $26,000 after acquiring an additional 13 shares during the last quarter. Finally, Navalign LLC acquired a new position in shares of GE Vernova in the fourth quarter worth $27,000.

GE Vernova Trading Up 1.8%

Shares of GE Vernova stock opened at $1,082.30 on Tuesday. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The firm has a market cap of $288.25 billion, a PE ratio of 30.98, a P/E/G ratio of 3.79 and a beta of 1.21. The business’s fifty day moving average is $1,037.03 and its two-hundred day moving average is $962.56. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 EPS. Analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current year.

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares in the company, 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 Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEV. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. BMO Capital Markets reissued an “outperform” rating on shares of GE Vernova in a research note on Friday, August 7th. Guggenheim boosted their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada upped their target price on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,133.15.

GE Vernova 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.