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

Man Group plc trimmed its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 19.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GEV. Ameritas Advisory Services LLC raised its position in shares of GE Vernova by 8.1% during the 4th quarter. Ameritas Advisory Services LLC now owns 3,974 shares of the company's stock valued at $1,307,000 after purchasing an additional 297 shares during the period. Diversify Wealth Management LLC raised its position in shares of GE Vernova by 4.5% during the 4th quarter. Diversify Wealth Management LLC now owns 1,149 shares of the company's stock valued at $378,000 after purchasing an additional 49 shares during the period. Mechanics Bank Trust Department bought a new stake in shares of GE Vernova during the 4th quarter valued at $402,000. M.E. Allison & CO. Inc. bought a new stake in shares of GE Vernova during the 4th quarter valued at $204,000. Finally, UMB Bank n.a. grew its stake in GE Vernova by 6.9% during the fourth quarter. UMB Bank n.a. now owns 1,940 shares of the company's stock valued at $638,000 after acquiring an additional 125 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GEV shares. Robert W. Baird raised their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. TD Cowen cut their target price on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. New Street Research set a $380.00 target price on shares of GE Vernova in a research note on Wednesday, March 5th. Susquehanna reaffirmed a "positive" rating and set a $499.00 target price (up from $399.00) on shares of GE Vernova in a research note on Wednesday, May 14th. Finally, Royal Bank of Canada cut their target price on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $374.62.

GE Vernova Trading Up 1.4%

Shares of GEV stock traded up $6.54 during trading hours on Friday, reaching $465.36. 3,569,081 shares of the stock were exchanged, compared to its average volume of 3,336,197. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $469.81. The company's 50-day moving average price is $358.25 and its 200-day moving average price is $350.55. The firm has a market capitalization of $127.01 billion and a price-to-earnings ratio of 83.70.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the business posted ($0.47) EPS. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. GE Vernova's payout ratio is 14.41%.

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.