Mathes Company Inc. Sells 4,470 Shares of GE Vernova Inc. (NYSE:GEV)

Mathes Company Inc. lowered its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 19.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,212 shares of the company's stock after selling 4,470 shares during the quarter. GE Vernova makes up 2.3% of Mathes Company Inc.'s investment portfolio, making the stock its 12th largest holding. Mathes Company Inc.'s holdings in GE Vernova were worth $5,560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEV. MRP Capital Investments LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $25,000. Navigoe LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $27,000. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova in the 1st quarter valued at about $27,000. Clarity Asset Management Inc. acquired a new position in shares of GE Vernova in the 4th quarter valued at about $28,000. Finally, Pinpoint Asset Management Ltd acquired a new position in shares of GE Vernova in the 4th quarter valued at about $30,000.

GE Vernova Stock Down 0.1%

GEV stock traded down $0.41 during midday trading on Friday, hitting $538.95. 2,285,780 shares of the company traded hands, compared to its average volume of 3,318,687. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $546.65. The business has a 50 day simple moving average of $476.87 and a 200-day simple moving average of $389.56. The stock has a market capitalization of $147.10 billion, a price-to-earnings ratio of 77.66, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the business earned ($0.47) earnings per share. GE Vernova's revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.19%. GE Vernova's dividend payout ratio is 14.41%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GEV. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a report on Thursday. TD Cowen dropped their target price on GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Truist Financial set a $440.00 target price on GE Vernova in a report on Thursday, March 27th. Morgan Stanley increased their price objective on GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Finally, Bank of America increased their price objective on GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $451.38.

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.