Thrivent Financial for Lutherans Has $12.47 Million Position in GE Vernova Inc. $GEV

Thrivent Financial for Lutherans cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 20.4% in the third quarter, Holdings Channel reports. The institutional investor owned 20,279 shares of the company’s stock after selling 5,184 shares during the period. Thrivent Financial for Lutherans’ holdings in GE Vernova were worth $12,469,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Bay Harbor Wealth Management LLC raised its holdings in shares of GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in GE Vernova by 47.2% during the third quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in GE Vernova by 112.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 28 shares in the last quarter. WFA Asset Management Corp acquired a new stake in GE Vernova in the 2nd quarter valued at $29,000. Finally, Howard Hughes Medical Institute bought a new stake in GE Vernova during the 2nd quarter worth about $31,000.

Key Stories Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: Baird upgraded GEV from Hold to Strong-Buy, saying overcapacity concerns look less likely — that upgrade is driving bullish analyst sentiment and likely lifted the stock. Baird upgrades GE Vernova
• Positive Sentiment: Market reaction: coverage notes GEV shares were trading notably higher following the Baird upgrade, indicating the upgrade had immediate impact on investor demand. GE Vernova Trading Higher After Upgrade
• Positive Sentiment: Business momentum: analysts and media point to rising data-center orders and a growing backlog (reported backlog ~$150B) as drivers of longer-term revenue visibility and demand for GEV’s power equipment. Fool: Energy Stock Momentum
• Neutral Sentiment: GEV completed a $2.6B multi‑tranche senior notes offering (various coupons) and says net proceeds will be used for general corporate purposes, including financing the acquisition of the remaining 50% of Prolec GE — this funds a strategic bolt-on but increases debt levels. BusinessWire: Senior Notes Offering

GE Vernova Trading Down 4.5%

GEV opened at $745.37 on Thursday. The stock’s fifty day simple moving average is $663.44 and its 200 day simple moving average is $626.75. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $795.50. The stock has a market cap of $200.90 billion, a PE ratio of 41.87, a price-to-earnings-growth ratio of 3.14 and a beta of 1.67.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 earnings per share. Equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 5th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GEV. The Goldman Sachs Group increased their price objective on shares of GE Vernova from $840.00 to $925.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Barclays reissued an “overweight” rating and set a $849.00 price target on shares of GE Vernova in a research report on Monday. Royal Bank Of Canada boosted their price target on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. BMO Capital Markets reiterated an “outperform” rating and set a $785.00 price objective on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Redburn Partners set a $475.00 price objective on GE Vernova in a report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $763.19.

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.