Lakeside Advisors INC. Lowers Stock Holdings in GE Vernova Inc. (NYSE:GEV)

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

Several other hedge funds have also bought and sold shares of GEV. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $25,000. Fairway Wealth LLC lifted 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 worth $26,000 after acquiring an additional 55 shares during the last quarter. Navigoe LLC bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $27,000. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $27,000. Finally, Clarity Asset Management Inc. bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $28,000.

Analyst Upgrades and Downgrades

GEV has been the topic of several analyst reports. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. UBS Group initiated coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 target price on the stock. Bank of America lifted their target price on shares of GE Vernova from $520.00 to $550.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. TD Cowen decreased their target price on shares of GE Vernova from $405.00 to $390.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and lifted their target price for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $451.38.

GE Vernova Price Performance

Shares of GEV traded down $0.41 during mid-day trading on Friday, reaching $538.95. The company's stock had a trading volume of 2,285,780 shares, compared to its average volume of 3,325,574. The company's 50 day moving average is $476.87 and its 200 day moving average is $389.85. The stock has a market cap of $147.10 billion, a PE ratio of 77.66, a price-to-earnings-growth ratio of 4.15 and a beta of 1.86. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $546.65.

GE Vernova (NYSE:GEV - Get Free Report) last released 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 the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.47) EPS. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.19%. GE Vernova's dividend payout ratio is presently 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.