Argyle Capital Management LLC Has $696,000 Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Argyle Capital Management LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 32.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,281 shares of the company's stock after acquiring an additional 554 shares during the period. Argyle Capital Management LLC's holdings in GE Vernova were worth $696,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of GE Vernova by 3.4% during the 4th 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 during the period. Capital International Investors boosted its holdings in shares of GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after purchasing an additional 195,828 shares in the last quarter. Norges Bank bought a new position in shares of GE Vernova in the 4th quarter valued at $1,109,720,000. Finally, Northern Trust Corp raised its holdings in shares of GE Vernova by 15.0% during the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock worth $865,126,000 after buying an additional 343,837 shares in the last quarter.

GE Vernova Price Performance

Shares of GEV traded up $12.28 during trading hours on Friday, hitting $517.35. 1,809,150 shares of the stock were exchanged, compared to its average volume of 3,306,722. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $532.59. The business has a 50-day moving average of $461.19 and a 200-day moving average of $382.74. The firm has a market capitalization of $141.20 billion, a P/E ratio of 74.55, a price-to-earnings-growth ratio of 3.98 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly 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. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the business posted ($0.47) EPS. The business's revenue was up 10.6% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.19%. GE Vernova's dividend payout ratio is currently 14.41%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GEV shares. BMO Capital Markets raised their price objective on GE Vernova from $381.00 to $522.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Morgan Stanley increased their price objective on shares of GE Vernova from $422.00 to $511.00 and gave the company an "overweight" rating in a research note on Tuesday, June 24th. The Goldman Sachs Group raised their target price on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Susquehanna reiterated a "positive" rating and set a $499.00 price target (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Finally, Barclays raised their price objective on GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $440.04.

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.