GE Vernova Inc. (NYSE:GEV) Position Trimmed by Lakeside Advisors INC.

Lakeside Advisors INC. lowered its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 18.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,300 shares of the company's stock after selling 522 shares during the period. Lakeside Advisors INC.'s holdings in GE Vernova were worth $702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the 4th quarter worth about $25,000. Fairway Wealth LLC boosted its holdings in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares during the period. Navigoe LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $27,000. Clarity Asset Management Inc. acquired a new position in shares of GE Vernova in the 4th quarter valued at about $28,000. Finally, Orion Capital Management LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $30,000.

Analysts Set New Price Targets

GEV has been the subject of several research reports. Susquehanna reaffirmed a "positive" rating and issued a $499.00 price target (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. BMO Capital Markets lifted their price target on shares of GE Vernova from $522.00 to $590.00 and gave the company an "outperform" rating in a report on Tuesday. Truist Financial set a $440.00 price target on shares of GE Vernova in a report on Thursday, March 27th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $430.00 to $460.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Citigroup decreased their target price on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $451.38.

GE Vernova Price Performance

Shares of GE Vernova stock traded up $6.15 on Thursday, hitting $541.92. The company had a trading volume of 1,429,465 shares, compared to its average volume of 3,309,906. The business has a 50-day simple moving average of $470.87 and a 200-day simple moving average of $386.90. The company has a market cap of $147.91 billion, a PE ratio of 78.05, a PEG ratio of 4.08 and a beta of 1.86. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $545.63.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business's revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted ($0.47) earnings per share. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's payout ratio is 14.41%.

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.