Schechter Investment Advisors LLC Has $1.42 Million Position in GE Vernova Inc. (NYSE:GEV)

Schechter Investment Advisors LLC decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,310 shares of the company’s stock after selling 171 shares during the quarter. Schechter Investment Advisors LLC’s holdings in GE Vernova were worth $1,418,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. 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 boosted its holdings 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 acquiring an additional 69 shares during the period. Asset Planning Inc bought a new stake in shares of GE Vernova during the fourth quarter worth approximately $35,000. Riggs Asset Managment Co. Inc. grew its position in shares of GE Vernova by 93.4% in the fourth 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 during the last quarter. Finally, Covestor Ltd increased its stake in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the period.

GE Vernova Stock Performance

GEV stock opened at $315.19 on Tuesday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The company has a fifty day moving average price of $363.25 and a 200-day moving average price of $307.25. The company has a market capitalization of $86.96 billion and a P/E ratio of 56.69.

GE Vernova (NYSE:GEV) last announced its 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 firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GEV shares. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Citigroup lifted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Barclays decreased their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $347.83.

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.