Thrivent Financial for Lutherans Has $13.36 Million Holdings in GE Vernova Inc. $GEV

Thrivent Financial for Lutherans lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 59.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,463 shares of the company’s stock after acquiring an additional 9,527 shares during the quarter. Thrivent Financial for Lutherans’ holdings in GE Vernova were worth $13,356,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Pines Wealth Management LLC acquired a new stake in GE Vernova in the 2nd quarter valued at approximately $408,000. Dupree Financial Group LLC bought a new stake in shares of GE Vernova in the second quarter valued at approximately $253,000. International Assets Investment Management LLC grew its stake in shares of GE Vernova by 18.8% in the second quarter. International Assets Investment Management LLC now owns 3,903 shares of the company’s stock worth $2,065,000 after acquiring an additional 619 shares during the last quarter. Alpha Financial Partners LLC bought a new position in GE Vernova during the second quarter worth $230,000. Finally, Aviva PLC raised its stake in GE Vernova by 6.7% during the 2nd quarter. Aviva PLC now owns 205,086 shares of the company’s stock valued at $108,521,000 after purchasing an additional 12,790 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have issued reports on GEV. BMO Capital Markets raised their price target on shares of GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Citigroup cut their price target on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Glj Research lifted their price objective on GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, UBS Group upped their target price on GE Vernova from $760.00 to $835.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $680.52.

GE Vernova Trading Down 10.3%

Shares of GEV opened at $615.86 on Thursday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $731.00. The stock has a 50 day simple moving average of $600.06 and a 200-day simple moving average of $586.71. The stock has a market cap of $167.10 billion, a PE ratio of 100.30, a PEG ratio of 5.23 and a beta of 1.71.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period in the prior year, the firm earned ($0.35) EPS. GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s payout ratio is currently 16.29%.

About GE Vernova

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.