Tritonpoint Wealth LLC Acquires 256 Shares of GE Vernova Inc. $GEV

Tritonpoint Wealth LLC boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 35.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 977 shares of the company’s stock after acquiring an additional 256 shares during the quarter. Tritonpoint Wealth LLC’s holdings in GE Vernova were worth $517,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Highline Wealth Partners LLC increased its position in shares of GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after purchasing an additional 18 shares during the last quarter. IMA Advisory Services Inc. bought a new position in shares of GE Vernova during the 1st quarter valued at about $27,000. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova during the 1st quarter valued at about $27,000. West Branch Capital LLC increased its position in shares of GE Vernova by 25.6% during the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company’s stock valued at $52,000 after purchasing an additional 20 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 53 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Mizuho lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price objective on the stock. in a research report on Monday, July 28th. HSBC increased their price objective on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research report on Friday, September 5th. TD Cowen increased their price objective on GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Barclays increased their price objective on GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, UBS Group initiated coverage on GE Vernova in a research report on Monday, July 7th. They set a “buy” rating and a $614.00 price target on the stock. Four investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $592.35.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $605.21 on Monday. The business’s 50 day simple moving average is $622.99 and its two-hundred day simple moving average is $491.47. The stock has a market capitalization of $164.75 billion, a P/E ratio of 145.83, a price-to-earnings-growth ratio of 4.41 and a beta of 1.88. GE Vernova Inc. has a one year low of $248.50 and a one year high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. During the same period in the previous year, the firm earned $4.65 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is presently 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

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.