TritonPoint Partners LLC bought a new stake in GE Vernova Inc. (NYSE:GEV – Free Report) in the fourth quarter, HoldingsChannel reports. The fund bought 1,312 shares of the company’s stock, valued at approximately $857,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. Jackson Grant Investment Advisers Inc. grew its stake in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the period. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova during the fourth quarter worth about $25,000. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova during the third quarter worth about $25,000. Torren Management LLC acquired a new position in shares of GE Vernova during the fourth quarter worth about $26,000. Finally, ORG Wealth Partners LLC boosted 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 buying an additional 29 shares during the period.
GE Vernova Stock Performance
Shares of NYSE GEV opened at $940.14 on Monday. The stock has a 50 day moving average price of $1,008.85 and a 200 day moving average price of $833.50. GE Vernova Inc. has a 52 week low of $474.21 and a 52 week high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The stock has a market capitalization of $252.63 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 3.49 and a beta of 1.24.
GE Vernova Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 5.83%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,328.00 price objective on shares of GE Vernova in a research report on Friday, April 24th. BMO Capital Markets upped their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Royal Bank Of Canada upped their price objective on GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Oppenheimer set a $1,303.00 price objective on GE Vernova in a research report on Thursday, April 23rd. Finally, BNP Paribas Exane cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,085.16.
Get Our Latest Analysis on GE Vernova
Insider Activity at GE Vernova
In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction 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. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.
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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