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

Key Points

• Thrivent Financial for Lutherans increased its GE Vernova stake by 15.8% in the fourth quarter, buying 3,206 more shares and bringing its total to 23,485 shares worth about $15.4 million.
• GE Vernova stock fell 3.4% on the session, even though the company remains near the top of its trading range with a market value of about $272.4 billion.
• Analyst sentiment remains bullish after GE Vernova’s strong quarterly results, which included EPS far above expectations and revenue growth of 17% year over year; several firms raised price targets, with consensus rating still at Moderate Buy.

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

Other large investors have also made changes to their positions in the company. AM Investment Strategies LLC grew its holdings in GE Vernova by 0.5% in the 4th quarter. AM Investment Strategies LLC now owns 9,919 shares of the company's stock valued at $6,483,000 after buying an additional 50 shares during the last quarter. Avantax Planning Partners Inc. boosted its position in shares of GE Vernova by 3.4% in the fourth quarter. Avantax Planning Partners Inc. now owns 549 shares of the company's stock valued at $359,000 after acquiring an additional 18 shares during the period. Cornerstone Wealth Management LLC boosted its position in shares of GE Vernova by 5.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 3,188 shares of the company's stock valued at $2,084,000 after acquiring an additional 161 shares during the period. Granite Bay Wealth Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter worth $275,000. Finally, Pinnacle Associates Ltd. grew its stake in shares of GE Vernova by 2.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 11,342 shares of the company's stock worth $7,413,000 after acquiring an additional 242 shares during the last quarter.

Insider Transactions at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares of the company's stock, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by company insiders.

GE Vernova Stock Down 3.4%

GEV opened at $1,013.61 on Tuesday. The company has a market capitalization of $272.38 billion, a P/E ratio of 29.53, a P/E/G ratio of 3.93 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm's fifty day moving average price is $961.74 and its two-hundred day moving average price is $779.07. GE Vernova Inc. has a fifty-two week low of $421.64 and a fifty-two week high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.34 billion during the quarter, compared to analysts' expectations of $9.19 billion. During the same quarter in the prior year, the company posted $0.91 EPS. The business's revenue was up 17.0% on a year-over-year basis. On average, analysts anticipate that GE Vernova Inc. will post 14.84 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on GEV. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Guggenheim raised their price target on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Morgan Stanley boosted their price objective on shares of GE Vernova from $817.00 to $960.00 and gave the stock an "overweight" rating in a report on Monday, March 23rd. China Renaissance upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, January 29th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $1,328.00 target price on shares of GE Vernova in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given 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 target price of $1,090.76.

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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