Tritonpoint Wealth LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Tritonpoint Wealth LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 627 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors have also recently bought and sold shares of the business. Waverton Investment Management Ltd boosted its holdings in shares of GE Vernova by 10.0% in the 3rd 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 bought a new stake in GE Vernova in the fourth quarter worth about $206,000. Hanlon Investment Management Inc. purchased a new position in GE Vernova in the third quarter valued at about $1,101,000. Atria Investments Inc grew its position in shares of GE Vernova by 127.0% during 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 period. Finally, Fractal Investments LLC purchased a new stake in shares of GE Vernova during the 3rd quarter worth approximately $1,530,000.

Analyst Upgrades and Downgrades

GEV has been the topic of several research analyst reports. TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $453.00 price target on shares of GE Vernova in a research report on Tuesday, January 28th. Bank of America boosted their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group increased their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $342.94.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $372.70 on Monday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The firm has a market cap of $102.74 billion and a PE ratio of 67.03. The company has a 50 day simple moving average of $355.29 and a two-hundred day simple moving average of $279.25.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts anticipate that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given 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 dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.