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

Overbrook Management Corp increased its holdings in GE Vernova Inc. (NYSE:GEV) by 71.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,151 shares of the company’s stock after purchasing an additional 6,306 shares during the quarter. GE Vernova accounts for 1.7% of Overbrook Management Corp’s holdings, making the stock its 20th biggest position. Overbrook Management Corp’s holdings in GE Vernova were worth $9,902,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GEV. Northwest Wealth Management LLC grew its position in GE Vernova by 3.6% in the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after buying an additional 16 shares during the last quarter. Traphagen Investment Advisors LLC lifted its position in shares of GE Vernova by 1.2% during the 3rd quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company’s stock valued at $872,000 after acquiring an additional 17 shares during the last quarter. Navigoe LLC lifted its position in shares of GE Vernova by 20.2% during the 3rd quarter. Navigoe LLC now owns 101 shares of the company’s stock valued at $62,000 after acquiring an additional 17 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in shares of GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares in the last quarter. Finally, Tritonpoint Wealth LLC boosted its stake in shares of GE Vernova by 1.7% during the 3rd quarter. Tritonpoint Wealth LLC now owns 994 shares of the company’s stock worth $611,000 after acquiring an additional 17 shares in the last quarter.

GE Vernova Stock Up 3.7%

GEV opened at $882.66 on Tuesday. The firm has a market capitalization of $237.90 billion, a P/E ratio of 49.59, a PEG ratio of 3.39 and a beta of 1.45. The stock has a fifty day moving average of $784.19 and a 200-day moving average of $674.79. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $920.63.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.GE Vernova’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 earnings per share. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s payout ratio is 11.24%.

Analysts Set New Price Targets

GEV has been the topic of a number of recent analyst reports. Susquehanna boosted their target price on GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. China Renaissance upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, January 29th. Bank of America lifted their price target on GE Vernova from $725.00 to $804.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. UBS Group restated a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. Finally, Robert W. Baird set a $923.00 price objective on shares of GE Vernova and gave the company an “outperform” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $837.25.

GE Vernova Company 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.