Thrivent Financial for Lutherans Purchases New Shares in GE Vernova Inc. (NYSE:GEV)

Thrivent Financial for Lutherans acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,634 shares of the company’s stock, valued at approximately $2,339,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GEV. Newport Trust Company LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth about $650,140,000. Bank of New York Mellon Corp bought a new stake in GE Vernova in the second quarter worth about $537,674,000. Price T Rowe Associates Inc. MD bought a new stake in GE Vernova in the first quarter worth about $367,474,000. Assenagon Asset Management S.A. purchased a new position in shares of GE Vernova during the second quarter valued at approximately $217,569,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of GE Vernova during the second quarter valued at approximately $176,775,000.

GE Vernova Stock Performance

Shares of GEV stock opened at $254.99 on Tuesday. The company’s 50-day moving average is $198.10. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $258.64.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. On average, equities analysts anticipate that GE Vernova Inc. will post 2.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GEV. Citigroup began coverage on GE Vernova in a research note on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price target for the company. HSBC assumed coverage on GE Vernova in a research report on Monday, August 12th. They set a “buy” rating and a $215.00 target price for the company. Royal Bank of Canada upped their price target on shares of GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a report on Tuesday, September 17th. Daiwa America upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, June 21st. Finally, Oppenheimer initiated coverage on shares of GE Vernova in a research report on Thursday, September 26th. They issued a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $227.48.

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.