GE Vernova Inc. (NYSE:GEV) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 7.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC grew its holdings 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 in the last quarter. Pineridge Advisors LLC grew its stake in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares in the last quarter. Asset Planning Inc purchased a new stake in GE Vernova during the 4th quarter worth about $35,000. Riggs Asset Managment Co. Inc. raised its holdings in shares of GE Vernova by 93.4% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock valued at $39,000 after purchasing an additional 57 shares in the last quarter. Finally, 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 buying an additional 46 shares during the last quarter.

GE Vernova Stock Performance

Shares of GEV opened at $325.64 on Friday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The company’s 50 day moving average price is $363.98 and its 200 day moving average price is $303.53. The company has a market capitalization of $89.84 billion and a PE ratio of 58.57.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 firm’s quarterly revenue was up 5.1% compared to the same quarter last year. 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 approved a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.31%. GE Vernova’s dividend payout ratio is 17.99%.

Analyst Upgrades and Downgrades

Several analysts recently commented on GEV shares. Bank of America upped their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Jefferies Financial Group raised their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. increased their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Morgan Stanley boosted their target price on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Eight investment 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $350.13.

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.