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

Morse Asset Management Inc reduced its position in GE Vernova Inc. (NYSE:GEV) by 30.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of GE Vernova by 47.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,999 shares of the company’s stock valued at $20,438,000 after acquiring an additional 19,838 shares during the last quarter. MJP Associates Inc. ADV increased its holdings in shares of GE Vernova by 20.2% during the 4th quarter. MJP Associates Inc. ADV now owns 1,016 shares of the company’s stock valued at $334,000 after acquiring an additional 171 shares during the last quarter. Moore Capital Management LP boosted its stake in GE Vernova by 1,957.5% during the 4th quarter. Moore Capital Management LP now owns 205,753 shares of the company’s stock valued at $67,678,000 after purchasing an additional 195,753 shares during the period. Light Street Capital Management LLC boosted its stake in GE Vernova by 766.4% during the 4th quarter. Light Street Capital Management LLC now owns 16,895 shares of the company’s stock valued at $5,557,000 after purchasing an additional 14,945 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new stake in GE Vernova during the 4th quarter valued at approximately $1,493,000.

GE Vernova Price Performance

GE Vernova stock opened at $416.85 on Tuesday. The business has a 50 day simple moving average of $332.32 and a 200 day simple moving average of $342.20. GE Vernova Inc. has a one year low of $150.01 and a one year high of $447.50. The company has a market capitalization of $113.77 billion and a PE ratio of 74.97.

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

GE Vernova Announces Dividend

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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

Analyst Ratings Changes

Several brokerages recently weighed in on GEV. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Robert W. Baird increased 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. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. CICC Research began coverage on GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating for the company. Finally, The Goldman Sachs Group increased their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $369.22.

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.