Hickory Point Bank & Trust Makes New $257,000 Investment in GE Vernova Inc. $GEV

Key Points

• Hickory Point Bank & Trust made a new investment of $257,000 in GE Vernova Inc., purchasing 485 shares in the second quarter, according to an SEC filing.
• Several hedge funds increased their stakes in GE Vernova, with Hemington Wealth Management leading at a 20.3% increase.
• GE Vernova reported a quarterly earnings per share of $1.86, exceeding analyst expectations of $1.63, with revenues of $9.11 billion.

Hickory Point Bank & Trust purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 485 shares of the company's stock, valued at approximately $257,000.

A number of other hedge funds also recently bought and sold shares of GEV. Westover Capital Advisors LLC lifted its stake in shares of GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after buying an additional 25 shares during the period. SVB Wealth LLC raised its position in GE Vernova by 0.7% in the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after purchasing an additional 26 shares in the last quarter. Stonebridge Financial Group LLC raised its position in GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after purchasing an additional 28 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in GE Vernova by 0.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after purchasing an additional 30 shares in the last quarter. Finally, Hemington Wealth Management raised its position in GE Vernova by 20.3% in the first quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after purchasing an additional 30 shares in the last quarter.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group assumed coverage on shares of GE Vernova in a research report on Monday, July 7th. They issued a "buy" rating and a $614.00 price target for the company. Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a research report on Monday, July 28th. Glj Research assumed coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a "buy" rating for the company. TD Cowen raised their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $580.04.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $625.99 on Monday. The firm has a market cap of $170.41 billion, a P/E ratio of 150.84, a P/E/G ratio of 4.32 and a beta of 1.88. The firm has a 50 day simple moving average of $608.65 and a 200 day simple moving average of $469.09. GE Vernova Inc. has a fifty-two week low of $219.01 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

GE Vernova Company 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.

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