Trivium Point Advisory LLC Invests $4.12 Million in GE Vernova Inc. $GEV

Key Points

• Trivium Point Advisory initiated a $4.12 million position in GE Vernova during the second quarter by purchasing 3,511 shares. Several other hedge funds also increased or initiated positions.
• Analysts remain broadly positive, with GE Vernova receiving a consensus “Moderate Buy” rating and an average price target of $1,133.15, although some firms recently downgraded the stock to “Hold.”
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above estimates, but earnings per share of $2.47 fell short of the $3.17 consensus forecast. CEO Victor Abate also sold shares worth approximately $4.57 million.

Trivium Point Advisory LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,511 shares of the company's stock, valued at approximately $4,125,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock worth $828,000 after buying an additional 26 shares during the last quarter. Jump Financial LLC purchased a new position in GE Vernova during the 2nd quarter worth approximately $258,000. Ossiam acquired a new position in GE Vernova during the second quarter worth approximately $42,000. Finally, Nebula Research & Development LLC increased its position in GE Vernova by 23.9% during the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock worth $886,000 after buying an additional 323 shares during the period.

Insider Buying and Selling at GE Vernova

In related news, 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GEV has been the subject of a number of recent research reports. Zacks Research cut shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Guggenheim lifted their price objective on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,328.00 target price on shares of GE Vernova in a report on Friday, April 24th. TD Cowen increased their target price on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

GE Vernova Price Performance

GE Vernova stock opened at $956.69 on Friday. The company has a market cap of $254.80 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 3.45 and a beta of 1.21. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The business has a fifty day moving average of $1,042.72 and a two-hundred day moving average of $968.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. During the same quarter in the previous year, the company posted $1.86 earnings per share. The company's quarterly revenue was up 21.9% compared to the same quarter last year. As a group, analysts predict that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

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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