Mathes Company Inc. Sells 1,751 Shares of GE Vernova Inc. (NYSE:GEV)

Mathes Company Inc. lowered its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,682 shares of the company's stock after selling 1,751 shares during the quarter. GE Vernova accounts for 2.7% of Mathes Company Inc.'s holdings, making the stock its 8th largest holding. Mathes Company Inc.'s holdings in GE Vernova were worth $7,461,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the 3rd quarter valued at approximately $2,507,296,000. International Assets Investment Management LLC boosted its holdings in shares of GE Vernova by 35,238.2% during the third 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 during the last quarter. WCM Investment Management LLC boosted its holdings in GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company's stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the last quarter. FMR LLC lifted its stake in shares of GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company's stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of GE Vernova by 34.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company's stock worth $462,073,000 after purchasing an additional 460,834 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GEV shares. Marathon Capitl raised GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. Guggenheim downgraded 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, January 24th. Bank of America upped their price target on GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Jefferies Financial Group boosted their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Evercore ISI upped their price target 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 analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued 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 price target of $350.13.

GE Vernova Stock Down 4.2 %

Shares of GEV stock traded down $15.63 during trading hours on Thursday, hitting $359.57. 3,453,374 shares of the company's stock were exchanged, compared to its average volume of 3,625,790. The firm has a market cap of $99.21 billion and a P/E ratio of 64.67. The firm has a 50 day moving average of $363.90 and a two-hundred day moving average of $297.73. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business's quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has initiated a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, December 20th. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.

About GE Vernova

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.