Man Group plc Reduces Position in GE Vernova Inc. (NYSE:GEV)

Man Group plc cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 19.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,775 shares of the company’s stock after selling 4,035 shares during the quarter. Man Group plc’s holdings in GE Vernova were worth $5,518,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MRP Capital Investments LLC purchased a new stake in GE Vernova during the fourth quarter valued at about $25,000. Cedar Mountain Advisors LLC lifted its holdings in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the last quarter. Fairway Wealth LLC lifted its holdings in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted its holdings in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Navigoe LLC purchased a new stake in GE Vernova during the fourth quarter valued at about $27,000.

GE Vernova Stock Performance

GEV stock opened at $449.36 on Wednesday. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $451.37. The firm’s fifty day moving average is $349.99 and its 200 day moving average is $347.66. The firm has a market cap of $122.65 billion and a P/E ratio of 80.82.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the firm earned ($0.47) EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Thursday, April 17th. GE Vernova’s dividend payout ratio is currently 14.41%.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Royal Bank of Canada decreased their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. TD Cowen decreased their target price on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $374.62.

GE Vernova Company 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.