Morse Asset Management Inc Increases Holdings in GE Vernova Inc. (NYSE:GEV)

Morse Asset Management Inc raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 50.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Navigoe LLC acquired a new stake in GE Vernova in the 4th quarter valued at about $27,000. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova during the 1st quarter valued at approximately $27,000. Clarity Asset Management Inc. purchased a new stake in GE Vernova in the 4th quarter worth approximately $28,000. Pinpoint Asset Management Ltd bought a new stake in GE Vernova in the 4th quarter worth $30,000. Finally, Orion Capital Management LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $30,000.

GE Vernova Stock Performance

NYSE GEV traded up $78.23 on Wednesday, reaching $627.22. The company's stock had a trading volume of 4,748,286 shares, compared to its average volume of 3,310,011. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $633.13. The stock has a market cap of $171.19 billion, a PE ratio of 89.74, a PEG ratio of 4.26 and a beta of 1.86. The firm's 50 day moving average is $493.30 and its two-hundred day moving average is $398.31.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly 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. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.65 earnings per share. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm 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. This represents a $1.00 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Analyst Ratings Changes

A number of research firms have commented on GEV. Susquehanna reissued a "positive" rating and set a $499.00 target price (up previously from $399.00) on shares of GE Vernova in a research report on Wednesday, May 14th. The Goldman Sachs Group lifted their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. BMO Capital Markets boosted their price target on shares of GE Vernova from $522.00 to $590.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. UBS Group initiated coverage on shares of GE Vernova in a research report on Monday, July 7th. They set a "buy" rating and a $614.00 price target on the stock. Finally, Glj Research began coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.