Flputnam Investment Management Co. Makes New $18.09 Million Investment in GE Vernova Inc. $GEV

Flputnam Investment Management Co. acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 15,397 shares of the company’s stock, valued at approximately $18,090,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Manning & Napier Advisors LLC lifted its position in GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after acquiring an additional 13 shares in the last quarter. Miller Global Investments LLC increased its holdings in GE Vernova by 63.6% during the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock worth $42,000 after purchasing an additional 14 shares in the last quarter. Torren Management LLC bought a new stake in GE Vernova during the 4th quarter worth approximately $26,000. Cornerstone Financial Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $25,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova in the third quarter worth approximately $25,000.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GEV. Morgan Stanley cut GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Guggenheim upped their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Mizuho increased their target price on shares of GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Oppenheimer raised their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Finally, Sanford C. Bernstein boosted their price target on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Trading Down 1.0%

Shares of GEV opened at $956.69 on Friday. The business’s 50-day moving average price is $1,042.72 and its 200-day moving average price is $968.13. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The stock has a market cap of $254.80 billion, a PE ratio of 27.38, a P/E/G ratio of 3.45 and a beta of 1.21. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 earnings per share. On average, equities analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

Insider Activity

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by insiders.

GE Vernova Profile

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.