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

Key Points

• Flputnam Investment Management purchased 15,397 shares of GE Vernova worth approximately $18.09 million during the second quarter, joining several other institutional investors that initiated positions.
• GE Vernova’s latest quarterly revenue rose 21.9% year over year to $11.10 billion, exceeding estimates, although earnings per share of $2.47 missed the $3.17 consensus forecast.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $1,133.15, while CEO Victor Abate sold shares worth roughly $4.57 million and reduced his holdings by 72.42%.

Flputnam Investment Management Co. bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,397 shares of the company's stock, valued at approximately $18,090,000.

A number of other institutional investors have also added to or reduced their stakes in GEV. Global Retirement Partners LLC bought a new stake in GE Vernova in the second quarter valued at approximately $18,736,000. 1ST Source Bank acquired a new stake in shares of GE Vernova during the second quarter worth $3,024,000. Elite Life Management LLC bought a new stake in GE Vernova in the 2nd quarter valued at about $393,000. Fielder Capital Group LLC bought a new stake in shares of GE Vernova in the second quarter valued at approximately $804,000. Finally, Lynch Asset Management Inc. bought a new position in shares of GE Vernova in the second quarter worth $587,000.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company's stock.

GE Vernova Stock Down 1.0%

Shares of NYSE GEV opened at $956.69 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The firm 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's fifty day simple moving average is $1,042.72 and its 200 day simple moving average is $968.13. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly 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). The company had revenue of $11.10 billion during 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% on a year-over-year basis. During the same period last year, the firm posted $1.86 earnings per share. As a group, sell-side analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GEV. Argus set a $1,300.00 price target on GE Vernova in a report on Monday, April 27th. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. TD Cowen lifted their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Royal Bank Of Canada upped their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Finally, Guggenheim lifted their price objective on 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. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,133.15.

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.

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