Jim Cramer Says These 10 Stocks Can Do Well Regardless of Who Wins

3. GE Vernova Inc. (NYSE:GEV)

Number of Hedge Fund Holders: 92

Cramer pointed out GE Vernova Inc.’s (NYSE:GEV) range of offerings and its management’s clear comments about the company’s nuclear capabilities.

“Next up, everyone wants some environmental play that can work with either party, right? Good luck finding one, but the best I can draw is GE Vernova. The stock’s up so much, but in this new regime, whatever that is, you can assume that it’s something to offer for every utility and hyperscaler. I know we’re all falling in love with nuclear power, right? I get that. And one day, it’ll be important again. I mean, maybe in the next decade. Right now though, if we want more electricity, we’re gonna need it from natural gas, wind, and solar. GE Vernova has natural gas turbines…, windmills, and the best possibilities of nuclear. Although the company would tell you, you shouldn’t get your hopes up for nukes anytime soon because it takes too long to build these… I like the fact that they’re upfront about that. That’s terrific.”

GE Vernova (NYSE:GEV), a leading company in the energy sector, focuses on a broad range of products and services related to electricity generation, transmission, orchestration, conversion, and storage. As of September, the company announced that it has secured the capacity to deliver between 70 and 80 heavy-duty gas turbines per year starting in 2026, an increase from the 55 turbines it has been producing in recent years.

In addition to this, the company has seen its equipment backlog increase significantly over the past two years. By the end of 2024, the company expects to more than triple its backlog, which stood at just over $6 billion at the end of 2022. During the latest earnings call, CEO Scott Strazik shared insights into the company’s approach to nuclear energy.

He emphasized the importance of the existing installed base of nuclear plants, noting that in the U.S. alone, GE Vernova’s (NYSE:GEV) equipment is already installed in 65 plants. Strazik pointed out that there is potential for at least 3 gigawatts of incremental nuclear capacity to be added through upgrades to these existing plants.