Morse Asset Management Inc Decreases Stock Position in GE Vernova Inc. (NYSE:GEV)

Morse Asset Management Inc decreased its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 30.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,460 shares of the company's stock after selling 653 shares during the period. Morse Asset Management Inc's holdings in GE Vernova were worth $480,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Czech National Bank lifted its stake in shares of GE Vernova by 6.8% in the 4th quarter. Czech National Bank now owns 59,767 shares of the company's stock valued at $19,659,000 after purchasing an additional 3,787 shares during the period. Fiduciary Alliance LLC bought a new stake in GE Vernova during the 4th quarter worth approximately $1,576,000. Trust Co. of Toledo NA OH bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $347,000. City State Bank grew its holdings in shares of GE Vernova by 59.8% in the fourth quarter. City State Bank now owns 441 shares of the company's stock valued at $145,000 after acquiring an additional 165 shares in the last quarter. Finally, Brookstone Capital Management grew its holdings in shares of GE Vernova by 10.2% in the fourth quarter. Brookstone Capital Management now owns 4,923 shares of the company's stock valued at $1,619,000 after acquiring an additional 457 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GEV shares. William Blair restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Guggenheim reaffirmed a "buy" rating and set a $380.00 price target on shares of GE Vernova in a research note on Thursday, April 24th. Baird R W raised GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Robert W. Baird boosted their target price on GE Vernova from $387.00 to $405.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada lowered their price target on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Six analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $374.62.

GE Vernova Trading Up 0.4%

Shares of GEV traded up $1.66 during midday trading on Friday, reaching $428.63. 2,595,385 shares of the stock were exchanged, compared to its average volume of 3,314,890. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $447.50. The company's 50 day moving average is $341.15 and its two-hundred day moving average is $344.40. The company has a market capitalization of $116.99 billion and a P/E ratio of 77.09.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results 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 return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the company earned ($0.47) EPS. The business's revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Thursday, April 17th. GE Vernova's payout ratio is currently 14.41%.

GE Vernova 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.