Morse Asset Management Inc Acquires 737 Shares of GE Vernova Inc. (NYSE:GEV)

Morse Asset Management Inc increased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 50.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,197 shares of the company's stock after buying an additional 737 shares during the period. Morse Asset Management Inc's holdings in GE Vernova were worth $671,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Navigoe LLC bought a new stake in GE Vernova during the fourth quarter worth about $27,000. EQ Wealth Advisors LLC bought a new position in GE Vernova during the first quarter valued at approximately $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova during the fourth quarter worth approximately $28,000. Pinpoint Asset Management Ltd purchased a new stake in shares of GE Vernova in the 4th quarter valued at $30,000. Finally, Orion Capital Management LLC purchased a new stake in shares of GE Vernova in the 4th quarter valued at $30,000.

GE Vernova Trading Down 2.6%

Shares of GEV stock traded down $14.60 during trading on Tuesday, reaching $551.32. 2,867,269 shares of the company's stock traded hands, compared to its average volume of 3,293,681. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $581.27. The firm's 50-day moving average is $493.30 and its 200 day moving average is $398.31. The company has a market capitalization of $150.47 billion, a P/E ratio of 79.40, a PEG ratio of 4.33 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. The firm's revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) EPS. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is 14.41%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley upped their price objective on shares of GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Guggenheim restated a "buy" rating and set a $380.00 target price on shares of GE Vernova in a research report on Thursday, April 24th. Glj Research began coverage on GE Vernova in a report on Monday, June 23rd. They set a "buy" rating on the stock. JPMorgan Chase & Co. raised their price target on GE Vernova from $460.00 to $620.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Susquehanna reiterated a "positive" rating and issued a $499.00 price target (up previously from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $468.88.

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.