Hancock Whitney Corp Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Hancock Whitney Corp acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,280 shares of the company’s stock, valued at approximately $391,000.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GEV. Barclays began coverage on GE Vernova in a report on Monday, September 16th. They issued an “overweight” rating and a $250.00 price target on the stock. Royal Bank of Canada lifted their price objective on shares of GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Redburn Atlantic started coverage on GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price on the stock. Mizuho upped their price target on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price objective on GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.42.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $251.55 on Tuesday. The stock has a 50-day moving average price of $189.57. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $254.87.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. On average, sell-side analysts predict that GE Vernova Inc. will post 3.02 earnings per share for the current year.

GE Vernova Profile

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.