Triumph Capital Management Buys New Shares in GE Vernova Inc. (NYSE:GEV)

Triumph Capital Management purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,415 shares of the company's stock, valued at approximately $432,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEV. Navigoe LLC acquired a new stake in GE Vernova during the fourth quarter worth approximately $27,000. EQ Wealth Advisors LLC acquired a new stake in GE Vernova during the first quarter worth approximately $27,000. Clarity Asset Management Inc. acquired a new stake in GE Vernova during the fourth quarter worth approximately $28,000. Pinpoint Asset Management Ltd acquired a new stake in GE Vernova during the fourth quarter worth approximately $30,000. Finally, Orion Capital Management LLC acquired a new stake in GE Vernova during the fourth quarter worth approximately $30,000.

Analyst Ratings Changes

A number of research firms have recently weighed in on GEV. Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and lifted their price target for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Robert W. Baird lifted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday. 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 research report on Thursday. Citigroup lifted their price target on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Guggenheim reiterated a "buy" rating and issued a $380.00 price target on shares of GE Vernova in a research report on Thursday, April 24th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $555.43.

GE Vernova Price Performance

Shares of GE Vernova stock traded up $20.63 during trading on Friday, hitting $644.60. The company's stock had a trading volume of 3,598,352 shares, compared to its average volume of 3,205,434. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $651.22. The stock has a market cap of $175.47 billion, a price-to-earnings ratio of 155.33, a price-to-earnings-growth ratio of 4.81 and a beta of 1.86. The stock has a 50-day moving average price of $510.80 and a two-hundred day moving average price of $406.35.

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 for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the previous year, the firm posted $4.65 earnings per share. GE Vernova's revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors 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 annualized dividend and a dividend yield of 0.16%. GE Vernova's dividend payout ratio is 24.10%.

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.