Oddo BHF Asset Management Sas Cuts Holdings in GE Vernova Inc. $GEV

Key Points

• Oddo BHF Asset Management reduced its GE Vernova stake by 24.2% in the fourth quarter, selling 4,643 shares and leaving it with 14,578 shares valued at about $9.53 million.
• GE Vernova reported a very strong quarter, with EPS of $17.44 versus the $1.95 consensus estimate and revenue of $9.34 billion, up 17% year over year.
• The stock has attracted bullish analyst coverage, with a Moderate Buy consensus and an average price target of $1,085.16, even as some company insiders recently sold shares.

Oddo BHF Asset Management Sas trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 24.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 SEC filing.

Several other institutional investors also recently bought and sold shares of GEV. Jackson Grant Investment Advisers Inc. increased its holdings in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock valued at $25,000 after buying an additional 31 shares during the period. Cornerstone Financial Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC acquired a new stake in GE Vernova in the third quarter valued at approximately $25,000. Torren Management LLC acquired a new stake in GE Vernova in the fourth quarter valued at approximately $26,000. Finally, ORG Wealth Partners LLC boosted its stake in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock valued at $27,000 after acquiring an additional 29 shares in the last quarter.

GE Vernova Trading Up 4.2%

NYSE:GEV opened at $980.08 on Tuesday. GE Vernova Inc. has a 12 month low of $479.04 and a 12 month high of $1,181.95. The firm has a fifty day simple moving average of $1,010.48 and a 200-day simple moving average of $836.38. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $263.37 billion, a P/E ratio of 28.55, a PEG ratio of 3.49 and a beta of 1.24.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping 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 business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The business's revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities research analysts anticipate that GE Vernova Inc. will post 14.99 earnings per share 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 paid a dividend of $0.50 per share. 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 payout ratio is presently 5.83%.

Insider Buying and Selling at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction on Monday, June 1st. The shares were 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 of the company's stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the transaction, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of GE Vernova from $817.00 to $960.00 and gave the company an "overweight" rating in a research note on Monday, March 23rd. The Goldman Sachs Group restated a "buy" rating and issued a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. Jefferies Financial Group lowered their target price on shares of GE Vernova from $1,350.00 to $1,210.00 and set a "buy" rating for the company in a research note on Thursday. Rothschild & Co Redburn upgraded shares of GE Vernova from a "sell" rating to a "buy" rating and raised their target price for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. Finally, Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $1,085.16.

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.

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