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

Overbrook Management Corp lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 53.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,845 shares of the company’s stock after selling 10,038 shares during the period. GE Vernova makes up 1.0% of Overbrook Management Corp’s holdings, making the stock its 26th biggest holding. Overbrook Management Corp’s holdings in GE Vernova were worth $5,439,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GEV. Norges Bank purchased a new position in shares of GE Vernova in the 2nd quarter valued at approximately $1,809,220,000. Arrowstreet Capital Limited Partnership increased its stake in GE Vernova by 273.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock valued at $798,126,000 after purchasing an additional 1,104,747 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after buying an additional 892,549 shares during the last quarter. Amundi lifted its stake in shares of GE Vernova by 109.0% during the first quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after buying an additional 868,927 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of GE Vernova by 10,044.9% during the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after purchasing an additional 834,129 shares during the period.

GE Vernova Stock Performance

GE Vernova stock opened at $682.18 on Tuesday. The company has a market capitalization of $185.09 billion, a PE ratio of 111.10, a price-to-earnings-growth ratio of 5.12 and a beta of 1.71. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00. The firm has a 50 day moving average price of $598.65 and a 200 day moving average price of $584.99.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the business earned ($0.35) earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is presently 32.57%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GEV. Seaport Res Ptn cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. HSBC increased their price target on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 price objective on shares of GE Vernova in a research note on Wednesday, October 15th. Barclays boosted their price target on shares of GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Mizuho reduced their target price on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $662.15.

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.