Schaper Benz & Wise Investment Counsel Inc. WI Sells 385 Shares of GE Vernova Inc. (NYSE:GEV)

Schaper Benz & Wise Investment Counsel Inc. WI cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 8.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,253 shares of the company’s stock after selling 385 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in GE Vernova were worth $1,399,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC raised its position in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Pineridge Advisors LLC raised its position in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Asset Planning Inc bought a new stake in GE Vernova during the 4th quarter valued at $35,000. Riggs Asset Managment Co. Inc. raised its position 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 worth $39,000 after acquiring an additional 57 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Wells Fargo & Company boosted their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. CICC Research initiated coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating for the company. BMO Capital Markets reduced their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Finally, Bank of America boosted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $347.83.

GE Vernova Stock Down 1.5 %

Shares of GEV stock opened at $288.90 on Friday. The stock has a market cap of $79.71 billion and a PE ratio of 51.96. The business has a 50-day simple moving average of $360.05 and a 200-day simple moving average of $309.70. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.35%. GE Vernova’s payout ratio is 17.99%.

GE Vernova declared that its board has authorized a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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.