Sentry Investment Management LLC Acquires Shares of 686 GE Vernova Inc. $GEV

Sentry Investment Management LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the third quarter, Holdings Channel reports. The firm bought 686 shares of the company’s stock, valued at approximately $429,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of GE Vernova in the 2nd quarter worth approximately $1,809,220,000. Arrowstreet Capital Limited Partnership increased its position in GE Vernova by 273.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after buying an additional 1,104,747 shares during the last quarter. Qube Research & Technologies Ltd increased its position in GE Vernova by 771.3% in the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock worth $403,861,000 after buying an additional 675,629 shares during the last quarter. Invesco Ltd. raised its stake in shares of GE Vernova by 26.3% in the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after buying an additional 462,038 shares during the period. Finally, Raymond James Financial Inc. lifted its position in shares of GE Vernova by 66.0% during the 2nd quarter. Raymond James Financial Inc. now owns 944,567 shares of the company’s stock valued at $499,817,000 after buying an additional 375,677 shares during the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $763.79 on Friday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $795.50. The business’s fifty day moving average is $666.37 and its 200 day moving average is $627.51. The company has a market capitalization of $205.86 billion, a PE ratio of 42.91, a price-to-earnings-growth ratio of 2.97 and a beta of 1.67.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.73 EPS. 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 business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 5th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. GE Vernova’s dividend payout ratio is presently 11.24%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GEV shares. Rothschild & Co Redburn restated a “sell” rating and issued a $475.00 price objective on shares of GE Vernova in a research note on Wednesday, October 15th. The Goldman Sachs Group boosted their price target on shares of GE Vernova from $840.00 to $925.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a report on Thursday, January 29th. Oppenheimer reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Royal Bank Of Canada increased their target price on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $763.19.

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.