Jim Cramer Praised These 6 Companies’ Exceptional Management

3. GE Vernova Inc. (NYSE:GEV)

Number of Hedge Fund Holders: 89

GE Vernova Inc. (NYSE:GEV) is an energy company that delivers solutions for electricity generation, transmission, and storage worldwide. Here’s what Mad Money’s host had to say about the company:

“Next, how about Larry Culp at the old General Electric? This company really stunk up the joint for so long, we almost had to believe GE was merely a practical joke played on the market. Larry Culp didn’t think it was all that funny though. He raised some cash by selling some good stuff because he knew every turnaround has to start with a balance sheet. Without a good balance sheet, the turn would be stillborn. Then he split the company into three separate businesses, GE HealthCare, GE Vernova, and GE Aerospace.”

Cramer recalled a lunch with Culp where he expressed his concerns to Culp about the struggling power business, predicting that the spinoff would fail. However, Cramer noted that Culp confidently assured him that securing an investment-grade rating would turn things around and make the company appealing to investors, leaving Cramer shocked by his optimism.

“I don’t know how far Larry can see around the corner but now GE Vernova is a beloved company, the hottest one with momentum traders can’t get enough of it precisely because it makes the turbines and windmills, … that you need to power all those new data centers. He appointed Scott Strazik to run what became GE Vernova. The stock started trading independently at $141 about 10 months ago. Now it’s at $383. Oh and don’t forget, it’s also gonna be the company that builds small modular nuclear plants that everybody loves so much.”

Fidelity Investments stated the following regarding GE Vernova Inc. (NYSE:GEV) in its Q3 2024 investor letter:

“Among individual holdings, the top relative contributor was an overweight stake in GE Vernova Inc. (NYSE:GEV). The company’s shares gained about 49% the past three months, as the power-generation business that split from General Electric on April 2 continued to fare well as a stand-alone entity. On July 24, the company reported quarterly earnings that were better than expected, boosted by its natural gas power-turbine business, and released an optimistic financial forecast for the rest of 2024.”