Cambridge Financial Group Inc. Sells 1,859 Shares of GE Vernova Inc. $GEV

Cambridge Financial Group Inc. cut its stake in GE Vernova Inc. (NYSE:GEV) by 35.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,346 shares of the company’s stock after selling 1,859 shares during the period. Cambridge Financial Group Inc.’s holdings in GE Vernova were worth $1,771,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of GE Vernova in the first quarter valued at approximately $912,000. Pines Wealth Management LLC acquired a new position in shares of GE Vernova in the second quarter valued at $408,000. Resona Asset Management Co. Ltd. raised its position in shares of GE Vernova by 8.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after purchasing an additional 6,551 shares during the period. Dupree Financial Group LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $253,000. Finally, Lockheed Martin Investment Management Co. acquired a new stake in shares of GE Vernova during the 1st quarter worth about $458,000.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Performance

Shares of GEV stock opened at $575.61 on Monday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The stock’s fifty day moving average price is $602.58 and its two-hundred day moving average price is $551.35. The company has a market cap of $156.18 billion, a PE ratio of 93.75, a P/E/G ratio of 4.28 and a beta of 1.69.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) earnings per share. GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is presently 16.29%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Rothschild Redb lowered GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Glj Research boosted their price target on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, Susquehanna lifted their target price on GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.