Lake Street Advisors Group LLC Sells 173 Shares of GE Vernova Inc. (NYSE:GEV)

Lake Street Advisors Group LLC trimmed its position in GE Vernova Inc. (NYSE:GEV) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,011 shares of the company’s stock after selling 173 shares during the quarter. Lake Street Advisors Group LLC’s holdings in GE Vernova were worth $662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the last quarter. Pineridge Advisors LLC increased its stake in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the period. Covestor Ltd lifted its holdings in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in GE Vernova in the 3rd quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC grew its holdings in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on GEV. The Goldman Sachs Group raised their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Johnson Rice began coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a report on Friday, January 24th. Finally, Wells Fargo & Company raised their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Stock Performance

Shares of GEV opened at $325.64 on Friday. The business’s 50 day moving average price is $363.98 and its two-hundred day moving average price is $303.53. The firm has a market cap of $89.84 billion and a PE ratio of 58.57. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova declared that its board has authorized a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.