Oddo BHF Asset Management Sas Trims Stock Position in GE Vernova Inc. $GEV

Oddo BHF Asset Management Sas lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 24.2% in the 4th quarter, HoldingsChannel reports. The firm owned 14,578 shares of the company’s stock after selling 4,643 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in GE Vernova were worth $9,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Munro Partners boosted its position in GE Vernova by 112.4% during the fourth quarter. Munro Partners now owns 330,338 shares of the company’s stock worth $215,899,000 after acquiring an additional 174,795 shares during the last quarter. Rakuten Investment Management Inc. boosted its position in GE Vernova by 18.5% during the fourth quarter. Rakuten Investment Management Inc. now owns 35,860 shares of the company’s stock worth $23,792,000 after acquiring an additional 5,610 shares during the last quarter. Abound Financial LLC acquired a new position in GE Vernova during the fourth quarter worth about $203,000. L2 Asset Management LLC boosted its position in GE Vernova by 7.0% during the fourth quarter. L2 Asset Management LLC now owns 1,365 shares of the company’s stock worth $892,000 after acquiring an additional 89 shares during the last quarter. Finally, Cynosure Group LLC boosted its position in GE Vernova by 15.3% during the fourth quarter. Cynosure Group LLC now owns 15,180 shares of the company’s stock worth $9,921,000 after acquiring an additional 2,014 shares during the last quarter.

Insider Activity at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GEV shares. Jefferies Financial Group lowered their price target on shares of GE Vernova from $1,350.00 to $1,210.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer set a $1,303.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Susquehanna set a $1,300.00 target price on shares of GE Vernova in a report on Thursday, April 23rd. Finally, Citigroup boosted their target price on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,085.16.

GE Vernova Stock Performance

NYSE:GEV opened at $980.08 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm has a market capitalization of $263.37 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 3.49 and a beta of 1.24. The company’s 50-day moving average is $1,010.48 and its two-hundred day moving average is $836.38. GE Vernova Inc. has a 1-year low of $479.04 and a 1-year high of $1,181.95.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the business posted $0.91 EPS. GE Vernova’s revenue was up 17.0% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s dividend payout ratio is currently 5.83%.

About GE Vernova

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.