Flputnam Investment Management Co. Boosts Stake in GE Vernova Inc. $GEV

Key Points

• Flputnam Investment Management boosted its GE Vernova stake by 59.9% in the fourth quarter, adding 1,599 shares to bring its total to 4,269 shares valued at about $2.79 million.
• Several analysts remain bullish on GE Vernova, with recent price target increases from firms including JPMorgan, TD Cowen, and Evercore. The stock currently carries a Moderate Buy consensus and an average target price of $1,090.76.
• GE Vernova reported strong quarterly results, including EPS of $17.44 versus the $1.95 estimate and revenue of $9.34 billion, up 17% year over year. The company also announced a quarterly dividend of $0.50 per share, payable July 14.

Flputnam Investment Management Co. grew its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 59.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,269 shares of the company's stock after buying an additional 1,599 shares during the period. Flputnam Investment Management Co.'s holdings in GE Vernova were worth $2,790,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEV. Brighton Jones LLC raised its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after buying an additional 753 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of GE Vernova by 1.7% in the second 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 shares of GE Vernova in the second quarter worth $258,000. Ossiam purchased a new position in shares of GE Vernova in the second quarter worth $42,000. Finally, Nebula Research & Development LLC increased its stake in shares of GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock worth $886,000 after acquiring an additional 323 shares during the period.

Analyst Ratings Changes

A number of research firms have recently weighed in on GEV. Evercore increased their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the stock an "outperform" rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. UBS Group reiterated a "buy" rating on shares of GE Vernova in a research note on Thursday, January 29th. Erste Group Bank upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Tuesday, March 24th. Finally, TD Cowen increased their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a research note 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,090.76.

GE Vernova Stock Down 3.6%

NYSE:GEV opened at $1,031.61 on Thursday. The firm has a market capitalization of $277.21 billion, a P/E ratio of 30.05, a PEG ratio of 4.01 and a beta of 1.51. GE Vernova Inc. has a 1-year low of $458.65 and a 1-year high of $1,181.95. The company's fifty day moving average price is $991.69 and its 200-day moving average price is $802.21. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm's revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the business earned $0.91 earnings per share. As a group, equities research analysts anticipate that GE Vernova Inc. will post 14.84 EPS for the current year.

GE Vernova Dividend Announcement

The company 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. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's dividend payout ratio (DPR) is currently 5.83%.

Insider Buying and Selling

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company's stock.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.