Benin Management CORP Has $1.31 Million Stock Holdings in GE Vernova Inc. $GEV

Benin Management CORP lifted its position in GE Vernova Inc. (NYSE:GEV) by 15.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,474 shares of the company’s stock after acquiring an additional 328 shares during the period. Benin Management CORP’s holdings in GE Vernova were worth $1,309,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GEV. Brighton Jones LLC raised its position in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the period. GAMMA Investing LLC raised its holdings in GE Vernova by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company’s stock worth $2,142,000 after buying an additional 542 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in GE Vernova by 4.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 41,579 shares of the company’s stock worth $12,693,000 after buying an additional 1,597 shares during the period. Flagship Harbor Advisors LLC raised its holdings in GE Vernova by 21.3% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,435 shares of the company’s stock worth $743,000 after buying an additional 427 shares during the period. Finally, Continuum Advisory LLC raised its holdings in GE Vernova by 20.5% during the 1st quarter. Continuum Advisory LLC now owns 635 shares of the company’s stock worth $194,000 after buying an additional 108 shares during the period.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 1.5%

NYSE GEV opened at $585.12 on Wednesday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The company has a market capitalization of $159.28 billion, a PE ratio of 140.99, a price-to-earnings-growth ratio of 4.30 and a beta of 1.72. The firm’s 50 day moving average is $613.83 and its 200-day moving average is $524.82.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) 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 earned $4.65 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Analysts Set New Price Targets

Several analysts have commented on GEV shares. Morgan Stanley raised their target price on shares of GE Vernova from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price on the stock in a report on Monday, September 15th. Rothschild Redb downgraded shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Citigroup raised their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Seaport Res Ptn upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $601.44.

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.