American Assets Inc. Takes Position in GE Vernova Inc. (NYSE:GEV)

American Assets Inc. purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $658,000. GE Vernova comprises 0.2% of American Assets Inc.’s holdings, making the stock its 12th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC grew its holdings in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the last quarter. Pineridge Advisors LLC boosted its stake in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Covestor Ltd boosted its stake in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth $31,000. Finally, Prestige Wealth Management Group LLC raised its stake in shares of GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEV. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a report on Tuesday, January 28th. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Robert W. Baird started coverage on shares of GE Vernova in a research report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. increased their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $347.83.

GE Vernova Trading Down 1.5 %

NYSE GEV opened at $288.90 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The stock has a market cap of $79.71 billion and a PE ratio of 51.96. The stock’s 50 day moving average is $360.05 and its 200 day moving average is $309.70.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has approved a share repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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.