Thrivent Financial for Lutherans Buys 3,206 Shares of GE Vernova Inc. $GEV

Thrivent Financial for Lutherans grew its position in GE Vernova Inc. (NYSE:GEV) by 15.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,485 shares of the company’s stock after purchasing an additional 3,206 shares during the period. Thrivent Financial for Lutherans’ holdings in GE Vernova were worth $15,414,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock worth $16,354,691,000 after buying an additional 208,162 shares during the last quarter. State Street Corp boosted its holdings in shares of GE Vernova by 1.3% in the 3rd quarter. State Street Corp now owns 11,238,278 shares of the company’s stock worth $6,910,417,000 after acquiring an additional 140,500 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of GE Vernova by 1.8% in the 3rd quarter. Northern Trust Corp now owns 2,877,458 shares of the company’s stock worth $1,769,349,000 after acquiring an additional 51,738 shares in the last quarter. Invesco Ltd. grew its position in GE Vernova by 7.1% during the 3rd quarter. Invesco Ltd. now owns 2,375,738 shares of the company’s stock worth $1,460,841,000 after acquiring an additional 158,481 shares during the last quarter. Finally, Capital World Investors increased its holdings in GE Vernova by 1,907.5% during the 3rd quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after purchasing an additional 2,048,792 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. TD Cowen boosted their price objective on GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Argus set a $1,300.00 price target on shares of GE Vernova in a research report on Monday, April 27th. BMO Capital Markets raised their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Wells Fargo & Company boosted their target price on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Finally, Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $1,090.76.

GE Vernova Stock Performance

GE Vernova stock opened at $1,013.61 on Tuesday. The company has a market cap of $272.38 billion, a PE ratio of 29.53, a PEG ratio of 3.93 and a beta of 1.51. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 1 year low of $421.64 and a 1 year high of $1,181.95. The company’s 50-day moving average is $961.74 and its two-hundred day moving average is $779.07.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current year.

Insider Buying and Selling

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’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 completion of the sale, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

GE Vernova Company 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.