Matthew Goff Investment Advisor LLC Sells 1,441 Shares of GE Vernova Inc. (NYSE:GEV)

Matthew Goff Investment Advisor LLC lowered its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 11.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,614 shares of the company's stock after selling 1,441 shares during the period. Matthew Goff Investment Advisor LLC's holdings in GE Vernova were worth $3,546,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its stake in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. Principal Securities Inc. increased its position in GE Vernova by 29.0% during the 4th quarter. Principal Securities Inc. now owns 1,892 shares of the company's stock worth $622,000 after purchasing an additional 425 shares in the last quarter. Allworth Financial LP increased its position in GE Vernova by 38.8% during the 4th quarter. Allworth Financial LP now owns 5,688 shares of the company's stock worth $1,871,000 after purchasing an additional 1,590 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in GE Vernova by 45.4% in the 4th quarter. Sanctuary Advisors LLC now owns 31,948 shares of the company's stock valued at $10,509,000 after purchasing an additional 9,979 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in GE Vernova by 4.7% in the fourth quarter. CIBC Asset Management Inc now owns 41,908 shares of the company's stock valued at $13,785,000 after buying an additional 1,896 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research reports. Citigroup dropped their price target on GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Barclays upped their target price on GE Vernova from $500.00 to $550.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Morgan Stanley reissued an "overweight" rating and set a $422.00 price target (up from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. New Street Research set a $380.00 price objective on GE Vernova in a research note on Wednesday, March 5th. Finally, Truist Financial set a $440.00 price objective on shares of GE Vernova in a report on Thursday, March 27th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $404.56.

GE Vernova Price Performance

NYSE GEV opened at $490.12 on Thursday. The stock has a market capitalization of $133.77 billion, a P/E ratio of 70.62, a P/E/G ratio of 3.79 and a beta of 1.97. The business has a 50 day simple moving average of $418.66 and a 200 day simple moving average of $368.60. GE Vernova Inc. has a one year low of $150.01 and a one year high of $500.72.

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

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio is 14.41%.

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.

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