Trivest Advisors Ltd Purchases Shares of 10,000 GE Vernova Inc. (NYSE:GEV)

Key Points

• Trivest Advisors Ltd has acquired 10,000 shares of GE Vernova Inc. (NYSE:GEV), valued at approximately $3,053,000, marking it as the fund's 20th largest investment.
• GE Vernova reported quarterly earnings of $1.86 per share, exceeding analysts' expectations, with revenues reaching $9.11 billion, up 11.1% from the previous year.
• The company declared a quarterly dividend of $0.25 per share, resulting in an annualized yield of 0.15%, with a payout ratio of 24.10%.

Trivest Advisors Ltd bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 10,000 shares of the company's stock, valued at approximately $3,053,000. GE Vernova comprises 0.3% of Trivest Advisors Ltd's holdings, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Westover Capital Advisors LLC boosted its holdings in GE Vernova by 2.3% in the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after purchasing an additional 25 shares during the period. Stonebridge Financial Group LLC lifted its holdings in GE Vernova by 8.9% during the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock valued at $105,000 after purchasing an additional 28 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in GE Vernova by 0.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock valued at $2,598,000 after purchasing an additional 30 shares during the last quarter. Fulcrum Equity Management lifted its holdings in GE Vernova by 3.6% during the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company's stock valued at $291,000 after purchasing an additional 31 shares during the last quarter. Finally, Dopkins Wealth Management LLC lifted its holdings in GE Vernova by 4.9% during the 1st quarter. Dopkins Wealth Management LLC now owns 668 shares of the company's stock valued at $204,000 after purchasing an additional 31 shares during the last quarter.

GE Vernova Stock Down 0.7%

NYSE GEV traded down $4.55 during trading on Friday, reaching $655.75. 2,630,152 shares of the stock traded hands, compared to its average volume of 3,669,422. The firm has a market cap of $178.51 billion, a price-to-earnings ratio of 158.20, a price-to-earnings-growth ratio of 4.53 and a beta of 1.86. The stock's 50-day moving average price is $526.57 and its 200 day moving average price is $413.87. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.65 earnings per share. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Susquehanna lifted their price target on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Morgan Stanley lifted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.

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.