We recently published a list of Jim Cramer’s Latest Calls: 10 Stocks You Should Not Miss. In this article, we are going to take a look at where E VERNOVA Inc (NYSE:GEV) stands against other Jim Cramer’s latest stock picks you shouldn’t miss.
Jim Cramer in a latest program on CNBC talked about earnings results from some of the top consumer and retail companies and said, as a compliment, that America has become a nation of “cheapskates” where consumers are unwilling to pay more when there’s little or no value.
“There’s something happening here, and what it is is exactly clear: we’ve become a nation of cheapskates. I say that as a compliment. Nobody gets away with charging too much anymore—not in this country, no matter the industry, perhaps even the drug industry. It’s happening now, it’s happening fast, and many companies are being left behind by the change. I see it everywhere I go—in the grocery store, online, in the mall, and, of course, in the stock market.”
Cramer talked about how restaurants that offer cheaper but quality meals are seeing a surge in their stock prices amid rising revenues. He also discussed how weight-loss drugs are impacting companies that sell alcohol products.
“American people are tired of paying up. They feel gou, they feel betrayed, they feel that the only thing about brand loyalty is that it isn’t worth a dime. They want a better deal. They’ll eagerly switch lifetime habits in order to save some money because prices are up so much that you feel like an idiot if you’re paying up.”
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For this article we watched latest programs of Jim Cramer aired on CNBC and picked 10 stocks he’s talking about. With each company we have mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
GE Vernova Inc (NYSE:GEV)
Number of Hedge Fund Investors: 92
Jim Cramer in a latest program praised GE Vernova Inc (NYSE:GEV)’s performance. However, he said the stock needs a “pause” and recommended investors to buy it on the dip. GE Vernova Inc (NYSE:GEV) shares are up 151% so far this year.
“People are really desperate to find some sort of clean energy play that is not compromised or feared that would be not sold over Trump Administration. This is actually a natural gas pipeline company that has wind all right and has maybe nuclear down the road,” Cramer said.
GE VERNOVA Inc (NYSE:GEV) Power segment growth is driven by advanced gas turbines and related services. The Electrification segment is also expanding quickly, supported by trends such as AI data centers and the need for grid modernization and high-voltage direct current (HVDC) technologies.
The renewable segment is expected to break even in 2024 and become profitable by 2025, indicating significant potential for growth.
GE VERNOVA Inc (NYSE:GEV) business is diversified since it operates across three segments: Power, Wind, and Electrification. GE Vernova Inc (NYSE:GEV) operates across both the upstream and downstream channels of power generation. Its products are deployed across 100 countries, contributing to around 30% of global electricity generation. The stock is poised to grow on the back of secular growth trends. Electricity demand is expected to jump 55% by 2040, driven by data centers, EVs and broader energy transition.
Carillon Eagle Mid Cap Growth Fund stated the following regarding GE Vernova Inc. (NYSE:GEV) in its Q2 2024 investor letter:
“GE Vernova Inc. (NYSE:GEV) is a global electric power company that was recently spun out of a much larger industrial conglomerate. The company’s shares performed well in their first quarter as a standalone company, primarily as a result of the increasing outlook for power demand growth, both domestically and abroad. We believe GE Vernova is well positioned to capitalize on this growing trend across its various products and services, but most notably within its large-scale gas turbine equipment and related services, as well as in its high-voltage electrical transmission products.”
Overall, GEV ranks 5th on our list of Jim Cramer’s latest stock picks you shouldn’t miss. While we acknowledge the potential of GEV, our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than GEV but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.