TritonPoint Partners LLC Invests $857,000 in GE Vernova Inc. $GEV

Key Points

• TritonPoint Partners LLC opened a new position in GE Vernova, buying 1,312 shares valued at about $857,000 in the fourth quarter.
• GE Vernova also saw notable insider selling, including shares sold by CAO Matthew Joseph Potvin and CEO Victor Abate, while insiders currently own just 0.21% of the company.
• The company recently reported strong quarterly earnings, beating analyst estimates on both EPS and revenue, and it also announced a quarterly dividend of $0.50 per share.

TritonPoint Partners LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,312 shares of the company's stock, valued at approximately $857,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. raised its position in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock worth $25,000 after acquiring an additional 31 shares during the last quarter. Cornerstone Financial Management LLC bought a new stake in shares of GE Vernova during the fourth quarter worth $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the third quarter worth $25,000. Torren Management LLC bought a new stake in shares of GE Vernova during the fourth quarter worth $26,000. Finally, ORG Wealth Partners LLC raised its position in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after acquiring an additional 29 shares during the last quarter.

Insider Transactions at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

GE Vernova Trading Down 0.1%

NYSE GEV opened at $940.14 on Monday. The stock has a 50-day simple moving average of $1,008.85 and a 200 day simple moving average of $833.50. The company has a market capitalization of $252.63 billion, a PE ratio of 27.39, a P/E/G ratio of 3.49 and a beta of 1.24. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 12 month low of $474.21 and a 12 month high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm's revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 earnings per share. Research analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova's payout ratio is presently 5.83%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GEV. JPMorgan Chase & Co. boosted their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. TD Cowen boosted their target price on GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Argus set a $1,300.00 target price on GE Vernova in a research report on Monday, April 27th. Erste Group Bank upgraded GE Vernova to a "strong-buy" rating in a report on Tuesday, March 24th. Finally, Oppenheimer set a $1,303.00 price objective on GE Vernova in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $1,085.16.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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