American Assets Investment Management LLC Has $4.01 Million Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• American Assets Investment Management LLC increased its stake in GE Vernova Inc. by 556.3% during the 1st quarter, owning 13,125 shares valued at approximately $4 million at the end of the period.
• Analyst upgrades have affected GE Vernova's target price, with Citigroup and Bank of America increasing their price targets to $670 and $620 respectively, indicating a generally positive sentiment towards the stock.
• GE Vernova recently declared a quarterly dividend of $0.25 per share, which reflects an annualized yield of 0.2% and a payout ratio of 24.10%.

American Assets Investment Management LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 556.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,125 shares of the company's stock after purchasing an additional 11,125 shares during the quarter. American Assets Investment Management LLC's holdings in GE Vernova were worth $4,007,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Capital International Investors increased its position in GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the period. Northern Trust Corp increased its stake in shares of GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after purchasing an additional 343,837 shares during the period. GAMMA Investing LLC boosted its position in shares of GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares during the period. Massachusetts Financial Services Co. MA boosted its position in GE Vernova by 47.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after acquiring an additional 622,730 shares during the period. Finally, Baird Financial Group Inc. increased its stake in GE Vernova by 5.3% during the 4th quarter. Baird Financial Group Inc. now owns 1,556,643 shares of the company's stock valued at $512,027,000 after buying an additional 78,201 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GEV shares. TD Cowen lifted their price target on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Glj Research assumed coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Wells Fargo & Company boosted their target price on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. UBS Group initiated coverage on GE Vernova in a research note on Monday, July 7th. They set a "buy" rating and a $614.00 price objective for the company. Finally, Morgan Stanley upped their target price on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Stock Performance

GE Vernova stock traded up $14.09 during trading hours on Wednesday, reaching $663.81. 1,876,296 shares of the company's stock traded hands, compared to its average volume of 2,926,753. The firm's 50 day moving average is $537.94 and its 200-day moving average is $419.58. GE Vernova Inc. has a fifty-two week low of $164.69 and a fifty-two week high of $677.29. The firm has a market capitalization of $180.70 billion, a price-to-earnings ratio of 133.96, a PEG ratio of 4.49 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter last year, the business posted $4.65 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. Analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's payout ratio is 24.10%.

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.