Matthew Goff Investment Advisor LLC Sells 243 Shares of GE Vernova Inc. (NYSE:GEV)

Matthew Goff Investment Advisor LLC reduced its position in GE Vernova Inc. (NYSE:GEV) by 1.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 13,055 shares of the company’s stock after selling 243 shares during the quarter. Matthew Goff Investment Advisor LLC’s holdings in GE Vernova were worth $4,294,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova during the third quarter worth about $2,507,296,000. Legal & General Group Plc bought a new position in GE Vernova in the 2nd quarter valued at about $293,699,000. Electron Capital Partners LLC boosted its stake in GE Vernova by 1,641.3% during the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock valued at $290,589,000 after purchasing an additional 1,596,996 shares during the last quarter. International Assets Investment Management LLC increased its holdings in GE Vernova by 35,238.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after purchasing an additional 1,431,729 shares in the last quarter. Finally, WCM Investment Management LLC raised its stake in shares of GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after purchasing an additional 1,161,901 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GEV shares. Wolfe Research assumed coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Morgan Stanley increased their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a report on Friday. Finally, Oppenheimer started coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating for the company. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $339.73.

GE Vernova Stock Performance

NYSE:GEV opened at $437.37 on Friday. The business’s fifty day moving average is $349.37 and its 200 day moving average is $269.42. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The firm has a market cap of $120.56 billion and a price-to-earnings ratio of 78.66.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue was up 5.1% compared to the same quarter last year. Equities analysts predict that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

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.