Cambient Family Office LLC Raises Position in GE Vernova Inc. $GEV

Key Points

• Cambient Family Office LLC increased its stake in GE Vernova by 203.5% in the first quarter, ending with 4,884 shares valued at about $4.27 million.
• Several other institutional investors also adjusted their positions, while insiders made notable sales: CEO Victor Abate and CAO Matthew Joseph Potvin both sold shares in recent transactions.
• GE Vernova reported strong quarterly results, with EPS of $17.44 versus analyst expectations of $1.95 and revenue of $9.34 billion, and analysts currently rate the stock a Moderate Buy with a consensus target of $1,089.88.

Cambient Family Office LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 203.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,884 shares of the company's stock after acquiring an additional 3,275 shares during the period. Cambient Family Office LLC's holdings in GE Vernova were worth $4,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GEV. Brighton Jones LLC grew 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 acquiring an additional 753 shares during the period. Schnieders Capital Management LLC. grew its position in shares of GE Vernova by 1.7% during the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock valued at $828,000 after acquiring an additional 26 shares during the period. Jump Financial LLC purchased a new stake in shares of GE Vernova in the 2nd quarter worth $258,000. Ossiam bought a new position in GE Vernova in the 2nd quarter worth $42,000. Finally, Nebula Research & Development LLC raised its holdings in GE Vernova by 23.9% in the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock worth $886,000 after purchasing an additional 323 shares during the period.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This trade 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 available at the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company's stock.

GE Vernova Stock Performance

GEV stock opened at $1,045.74 on Friday. The firm has a market cap of $281.01 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 4.02 and a beta of 1.23. GE Vernova Inc. has a twelve month low of $482.20 and a twelve month high of $1,181.95. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The business's fifty day simple moving average is $1,031.16 and its two-hundred day simple moving average is $863.97.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. The business 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 company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. Analysts predict that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova's payout ratio is presently 5.83%.

Analyst Ratings Changes

A number of brokerages have commented on GEV. Susquehanna set a $1,300.00 price target on GE Vernova in a research report on Thursday, April 23rd. Citigroup boosted their price objective on GE Vernova from $779.00 to $1,110.00 and gave the company a "neutral" rating in a research note on Monday, April 13th. Robert W. Baird raised their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Rothschild & Co Redburn raised shares of GE Vernova from a "sell" rating to a "buy" rating and lifted their price target for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. Finally, Wells Fargo & Company upped their price target on shares of GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,089.88.

About GE Vernova

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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