GE Vernova Inc. (NYSE:GEV) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in GE Vernova Inc. (NYSE:GEV) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,861 shares of the company’s stock after selling 47 shares during the quarter. Thrivent Financial for Lutherans’ holdings in GE Vernova were worth $5,637,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Howard Capital Management Group LLC purchased a new stake in shares of GE Vernova during the third quarter valued at approximately $213,000. Nicolet Advisory Services LLC purchased a new stake in GE Vernova during the 3rd quarter worth $251,000. Cerity Partners LLC lifted its holdings in GE Vernova by 28.8% in the 3rd quarter. Cerity Partners LLC now owns 53,533 shares of the company’s stock worth $13,650,000 after buying an additional 11,978 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in GE Vernova by 1.6% in the 3rd quarter. Kingsview Wealth Management LLC now owns 6,723 shares of the company’s stock valued at $1,714,000 after buying an additional 107 shares during the last quarter. Finally, Algert Global LLC purchased a new position in GE Vernova in the 3rd quarter valued at about $5,171,000.

GE Vernova Price Performance

NYSE GEV opened at $343.98 on Tuesday. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The firm has a market capitalization of $94.91 billion and a PE ratio of 61.87. The company’s 50 day simple moving average is $351.71 and its 200 day simple moving average is $320.18.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Evercore ISI boosted their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Bank of America raised their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Johnson Rice initiated coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $348.72.

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.