Morse Asset Management Inc Has $480,000 Stake in GE Vernova Inc. (NYSE:GEV)

Morse Asset Management Inc trimmed its position in GE Vernova Inc. (NYSE:GEV) by 30.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,460 shares of the company’s stock after selling 653 shares during the quarter. Morse Asset Management Inc’s holdings in GE Vernova were worth $480,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GEV. FMR LLC raised its holdings in GE Vernova by 3.4% during the fourth quarter. FMR LLC now owns 24,861,833 shares of the company’s stock worth $8,177,803,000 after acquiring an additional 814,155 shares in the last quarter. Capital International Investors increased its position in GE Vernova by 25.3% during the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company’s stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. Geode Capital Management LLC increased its position in GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after buying an additional 195,828 shares during the last quarter. Norges Bank acquired a new position in shares of GE Vernova in the fourth quarter valued at approximately $1,109,720,000. Finally, Northern Trust Corp grew its position in shares of GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company’s stock valued at $865,126,000 after purchasing an additional 343,837 shares during the last quarter.

GE Vernova Stock Up 4.4%

NYSE GEV opened at $416.85 on Tuesday. The company has a 50-day simple moving average of $332.32 and a two-hundred day simple moving average of $342.20. GE Vernova Inc. has a 12-month low of $150.01 and a 12-month high of $447.50. The firm has a market cap of $113.77 billion and a price-to-earnings ratio of 74.97.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.47) earnings per share. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be issued a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.24%. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

Analyst Ratings Changes

GEV has been the topic of a number of analyst reports. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Jefferies Financial Group raised their target price on GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a report on Thursday, March 27th. BMO Capital Markets dropped their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 price target for the company. Finally, CICC Research started coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.22.

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.