Man Group plc Has $5.52 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Man Group plc lowered its position in GE Vernova Inc. (NYSE:GEV) by 19.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,775 shares of the company’s stock after selling 4,035 shares during the period. Man Group plc’s holdings in GE Vernova were worth $5,518,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hengehold Capital Management LLC lifted its position in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares during the period. Mutual Advisors LLC lifted its position in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares during the period. WASHINGTON TRUST Co lifted its position in shares of GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares during the period. Kovack Advisors Inc. lifted its position in shares of GE Vernova by 1.0% in the 4th quarter. Kovack Advisors Inc. now owns 3,167 shares of the company’s stock worth $1,042,000 after purchasing an additional 31 shares during the period. Finally, NewSquare Capital LLC lifted its position in shares of GE Vernova by 32.4% in the 4th quarter. NewSquare Capital LLC now owns 139 shares of the company’s stock worth $46,000 after purchasing an additional 34 shares during the period.

GE Vernova Price Performance

NYSE GEV opened at $449.36 on Wednesday. The company has a fifty day moving average price of $349.99 and a 200-day moving average price of $347.66. The firm has a market cap of $122.65 billion and a price-to-earnings ratio of 80.82. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $451.37.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.47) EPS. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova’s dividend payout ratio (DPR) is currently 14.41%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GEV shares. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Morgan Stanley reiterated an “overweight” rating and set a $422.00 target price (up previously from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Royal Bank of Canada dropped their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Finally, Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price 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.