Amundi Sells 306,525 Shares of GE Vernova Inc. $GEV

Amundi decreased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 18.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,359,455 shares of the company’s stock after selling 306,525 shares during the period. Amundi owned approximately 0.50% of GE Vernova worth $686,620,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. SCS Capital Management LLC bought a new position in GE Vernova during the 2nd quarter worth about $347,000. Veltria Advisors Corp. acquired a new position in shares of GE Vernova during the second quarter worth about $347,000. Great Diamond Partners LLC bought a new position in shares of GE Vernova during the second quarter worth about $231,000. Philadelphia Trust Co. raised its position in GE Vernova by 11.9% in the 2nd quarter. Philadelphia Trust Co. now owns 2,579 shares of the company’s stock valued at $1,365,000 after buying an additional 275 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in GE Vernova by 100.0% in the 2nd quarter. First Trust Advisors LP now owns 447,043 shares of the company’s stock valued at $236,553,000 after acquiring an additional 223,528 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays upped their price target on GE Vernova from $710.00 to $720.00 and gave the stock an “overweight” rating in a research report on Thursday. HSBC raised their target price on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research report on Friday, September 5th. Redburn Partners set a $475.00 price target on shares of GE Vernova in a research report on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. Finally, Rothschild Redb downgraded GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $616.08.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $628.84 on Friday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The company has a market capitalization of $170.62 billion, a P/E ratio of 102.42, a price-to-earnings-growth ratio of 4.48 and a beta of 1.71. The company has a 50-day simple moving average of $590.12 and a 200 day simple moving average of $573.45.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.35) EPS. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, October 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is presently 16.29%.

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.