Schear Investment Advisers LLC Has $3.09 Million Holdings in GE Vernova Inc. (NYSE:GEV)

Schear Investment Advisers LLC increased its stake in GE Vernova Inc. (NYSE:GEV) by 10.4% in the 4th quarter, Holdings Channel reports. The firm owned 9,399 shares of the company’s stock after purchasing an additional 888 shares during the period. GE Vernova accounts for approximately 1.6% of Schear Investment Advisers LLC’s holdings, making the stock its 13th biggest position. Schear Investment Advisers LLC’s holdings in GE Vernova were worth $3,092,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Waverton Investment Management Ltd grew its stake in GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after buying an additional 66,455 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at $206,000. Hanlon Investment Management Inc. acquired a new position in shares of GE Vernova in the 3rd quarter valued at $1,101,000. Atria Investments Inc increased its stake in shares of GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after acquiring an additional 2,847 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC raised its holdings in GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after purchasing an additional 822 shares during the period.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $373.13 on Wednesday. The company’s 50 day moving average price is $359.53 and its 200-day moving average price is $288.77. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The stock has a market capitalization of $102.95 billion and a price-to-earnings ratio of 67.11.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has approved a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. GE Vernova’s payout ratio is presently 17.99%.

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a report on Tuesday, January 28th. Bank of America lifted their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Citigroup upped their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a report on Friday, January 24th. Finally, Evercore ISI increased their target price on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $346.22.

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.