American Assets Investment Management LLC Acquires 11,703 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• American Assets Investment Management LLC increased its stake in GE Vernova Inc. by 585.2% in the first quarter, holding approximately $4.18 million worth of shares.
• Several analysts have revised their price targets for GE Vernova, with Susquehanna raising its target from $662 to $736 and Wells Fargo increasing theirs from $474 to $697.
• GE Vernova reported a quarterly revenue of $9.11 billion, exceeding expectations of $8.78 billion and showing an 11.1% year-over-year increase.

American Assets Investment Management LLC increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 585.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,703 shares of the company's stock after acquiring an additional 11,703 shares during the period. GE Vernova makes up approximately 1.8% of American Assets Investment Management LLC's investment portfolio, making the stock its 21st biggest position. American Assets Investment Management LLC's holdings in GE Vernova were worth $4,183,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GEV. FMR LLC lifted its holdings in GE Vernova by 3.4% in the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after acquiring an additional 814,155 shares during the last quarter. Capital International Investors raised its holdings in shares of GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC lifted its stake in GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after purchasing an additional 195,828 shares during the last quarter. Northern Trust Corp boosted its holdings in GE Vernova by 15.0% during the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after buying an additional 343,837 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in 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 in the last quarter.

GE Vernova Trading Down 0.2%

GEV stock traded down $1.30 during trading on Friday, hitting $658.99. The company had a trading volume of 1,145,812 shares, compared to its average volume of 3,656,706. The company has a fifty day moving average price of $526.57 and a two-hundred day moving average price of $413.87. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $677.29. The company has a market cap of $179.39 billion, a P/E ratio of 158.89, a P/E/G ratio of 4.53 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the company earned $4.65 EPS. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Barclays increased their price objective on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Glj Research began coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating for the company. Finally, JPMorgan Chase & Co. upped their price target on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $560.21.

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.