Cambridge Financial Group Inc. Buys New Shares in GE Vernova Inc. (NYSE:GEV)

Cambridge Financial Group Inc. purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,372 shares of the company’s stock, valued at approximately $2,096,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEV. MRP Capital Investments LLC bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the period. Fairway Wealth LLC increased its holdings in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC grew its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares in the last quarter. Finally, Asset Planning Inc purchased a new stake in GE Vernova in the fourth quarter valued at approximately $35,000.

GE Vernova Stock Down 0.1 %

Shares of GEV stock opened at $302.71 on Friday. The stock has a market cap of $83.52 billion and a price-to-earnings ratio of 54.44. The firm’s 50 day moving average price is $345.68 and its two-hundred day moving average price is $321.69. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on GEV. Evercore ISI boosted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Wells Fargo & Company upped their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $349.54.

GE Vernova Company 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.