American Assets Investment Management LLC Sells 3,250 Shares of GE Vernova Inc. (NYSE:GEV)

American Assets Investment Management LLC cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 16.2% during the 4th quarter, Holdings Channel reports. The fund owned 16,755 shares of the company’s stock after selling 3,250 shares during the period. American Assets Investment Management LLC’s holdings in GE Vernova were worth $5,511,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its holdings in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares during the last quarter. State Street Corp raised its holdings in GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC acquired a new position in GE Vernova during the third quarter worth $2,507,296,000. Geode Capital Management LLC raised its holdings in GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after buying an additional 80,479 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in GE Vernova by 3.7% during the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock worth $533,257,000 after buying an additional 71,067 shares during the last quarter.

GE Vernova Stock Up 6.0 %

Shares of NYSE:GEV opened at $332.33 on Tuesday. The firm has a market capitalization of $91.69 billion and a PE ratio of 59.77. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The company has a 50-day moving average price of $354.99 and a two-hundred day moving average price of $315.42.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share 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 repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GEV. New Street Research set a $380.00 price objective on shares of GE Vernova in a report on Wednesday, March 5th. Robert W. Baird began coverage on shares of GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective on the stock. Johnson Rice initiated coverage on shares of GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective on the stock. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Bank of America increased their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $349.02.

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.