Matthew Goff Investment Advisor LLC Has $4.29 Million Holdings in GE Vernova Inc. (NYSE:GEV)

Matthew Goff Investment Advisor LLC trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,055 shares of the company’s stock after selling 243 shares during the period. Matthew Goff Investment Advisor LLC’s holdings in GE Vernova were worth $4,294,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Castleview Partners LLC acquired a new position in GE Vernova in the 3rd quarter valued at about $28,000. Pathway Financial Advisers LLC bought a new stake in shares of GE Vernova during the second quarter worth approximately $29,000. Covestor Ltd grew its position in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Darwin Wealth Management LLC bought a new position in shares of GE Vernova during the third quarter worth approximately $31,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GEV shares. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a research report on Friday. Truist Financial lifted their price objective on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley increased their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup boosted their price target on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Evercore ISI increased their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Stock Up 2.4 %

GEV opened at $437.37 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The company has a fifty day moving average of $349.37 and a 200-day moving average of $269.42. The stock has a market cap of $120.56 billion and a PE ratio of 78.66.

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

GE Vernova announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Friday, December 20th. GE Vernova’s payout ratio 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.