Schechter Investment Advisors LLC Lowers Stock Position in GE Vernova Inc. (NYSE:GEV)

Schechter Investment Advisors LLC lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 18.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,533 shares of the company's stock after selling 777 shares during the quarter. Schechter Investment Advisors LLC's holdings in GE Vernova were worth $1,079,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. FMR LLC boosted its holdings in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after acquiring an additional 814,155 shares in the last quarter. Capital International Investors increased its position in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC raised its position in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after buying an additional 195,828 shares during the last quarter. Norges Bank acquired a new stake in GE Vernova in the 4th quarter worth about $1,109,720,000. Finally, Northern Trust Corp boosted its position in shares of GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after acquiring an additional 343,837 shares during the last quarter.

GE Vernova Stock Performance

GEV stock traded up $15.80 during mid-day trading on Monday, hitting $554.96. The company had a trading volume of 2,469,640 shares, compared to its average volume of 3,723,405. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $555.86. The stock's fifty day moving average price is $476.87 and its two-hundred day moving average price is $390.18. The firm has a market cap of $151.46 billion, a PE ratio of 79.96, a price-to-earnings-growth ratio of 4.01 and a beta of 1.86.

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

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.18%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Analyst Ratings Changes

GEV has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on shares of GE Vernova from $354.00 to $544.00 and gave the company a "neutral" rating in a research note on Monday. Wall Street Zen upgraded shares of GE Vernova from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Morgan Stanley raised their target price on GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a report on Tuesday, June 24th. Bank of America increased their target price on GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Finally, Glj Research initiated coverage on GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating for the company. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $459.29.

GE Vernova 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.