Matthew Goff Investment Advisor LLC Reduces Stock Position in GE Vernova Inc. $GEV

Key Points

• Matthew Goff Investment Advisor LLC reduced its stake in GE Vernova Inc. by 4.1% during the 2nd quarter, now owning 11,134 shares valued at approximately $5.89 million.
• Several hedge funds have increased their positions in GE Vernova, with Vanguard Group boosting its holdings by 1.8% and Goldman Sachs Group increasing by 7.4% in the 1st quarter.
• GE Vernova reported stronger-than-expected quarterly results with earnings of $1.86 per share, surpassing estimates and indicating a 11.1% year-over-year revenue growth.

Matthew Goff Investment Advisor LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,134 shares of the company's stock after selling 480 shares during the period. Matthew Goff Investment Advisor LLC's holdings in GE Vernova were worth $5,892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after purchasing an additional 753 shares in the last quarter. American Assets Inc. acquired a new position in shares of GE Vernova in the fourth quarter worth about $658,000. Two Sigma Advisers LP acquired a new position in shares of GE Vernova during the 4th quarter worth about $17,729,000. Woodline Partners LP acquired a new stake in GE Vernova in the 4th quarter valued at about $5,445,000. Finally, Waverly Advisors LLC grew its stake in shares of GE Vernova by 97.5% in the 4th quarter. Waverly Advisors LLC now owns 4,859 shares of the company's stock valued at $1,598,000 after buying an additional 2,399 shares during the period.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.15% of the company's stock.

GE Vernova Stock Performance

Shares of GEV stock traded up $18.16 on Monday, hitting $642.33. The company's stock had a trading volume of 1,520,625 shares, compared to its average volume of 3,476,513. GE Vernova Inc. has a fifty-two week low of $246.79 and a fifty-two week high of $677.29. The stock's 50 day moving average is $617.11 and its 200-day moving average is $479.75. The company has a market capitalization of $174.86 billion, a PE ratio of 154.78, a PEG ratio of 4.55 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the prior year, the firm posted $4.65 EPS. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GEV shares. HSBC lifted their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research report on Friday, September 5th. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Glj Research initiated coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus price target of $592.35.

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.