Ostrum Asset Management Trims Stake in GE Vernova Inc. (NYSE:GEV)

Ostrum Asset Management lowered its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 38.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,470 shares of the company's stock after selling 1,515 shares during the quarter. Ostrum Asset Management's holdings in GE Vernova were worth $812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in GEV. Norinchukin Bank The lifted its holdings in shares of GE Vernova by 9.4% during the fourth quarter. Norinchukin Bank The now owns 12,310 shares of the company's stock worth $4,049,000 after purchasing an additional 1,060 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of GE Vernova in the 4th quarter valued at about $3,546,000. BOS Asset Management LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at about $228,000. Capital International Inc. CA increased its stake in shares of GE Vernova by 46.4% in the fourth quarter. Capital International Inc. CA now owns 99,715 shares of the company's stock valued at $32,799,000 after buying an additional 31,612 shares during the period. Finally, First Trust Advisors LP raised its position in shares of GE Vernova by 12.6% during the fourth quarter. First Trust Advisors LP now owns 174,149 shares of the company's stock worth $57,283,000 after acquiring an additional 19,531 shares during the last quarter.

GE Vernova Price Performance

NYSE:GEV traded up $12.13 on Friday, reaching $372.62. 3,956,787 shares of the company's stock were exchanged, compared to its average volume of 3,359,003. The firm has a market cap of $101.85 billion and a price-to-earnings ratio of 67.02. The stock has a fifty day simple moving average of $318.90 and a 200-day simple moving average of $332.43. GE Vernova Inc. has a 52 week low of $149.42 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.46. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the firm posted ($0.47) EPS. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's payout ratio is 14.41%.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent analyst reports. Citigroup decreased their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Morgan Stanley reiterated an "overweight" rating and set a $422.00 price objective (up from $400.00) on shares of GE Vernova in a research report on Thursday. Susquehanna boosted their target price on shares of GE Vernova from $370.00 to $399.00 and gave the company a "positive" rating in a report on Thursday. Truist Financial set a $440.00 price target on GE Vernova in a report on Thursday, March 27th. Finally, BMO Capital Markets cut their target price on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $369.22.

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.