1. GE Vernova Inc. (NYSE:GEV)
Number of Hedge Fund Holders: 111
GE Vernova Inc. (NYSE:GEV) is an energy company that provides various products and services that generate, transfer, orchestrate, convert, and store electricity in the US, Europe, Asia, the Americas, the Middle East, and Africa. The company operates through three segments: Power, Wind, and Electrification.
Barclays analyst Julian Mitchell maintained a Buy rating on GE Vernova on April 29 and set a $427 price target. In Q1 2025, GE Vernova’s Gas Power segment saw equipment orders increase by over 30%, with 29 heavy-duty gas turbines booked, which is ~2x the previous year. The total gas turbine backlog has grown to 29 gigawatts and is supplemented by 21 gigawatts in slot reservation agreements expected to convert to orders.
GE Vernova Inc. (NYSE:GEV) currently has 50 gigawatts of gas turbines under contract or reserved and anticipates shipping more than 10 gigawatts in the remainder of 2025, with the aim to end the year with over 60 gigawatts in backlog and reservations. The long-term outlook for gas power remains strong, with 2026 and 2027 largely sold out and commercial activity accelerating for deliveries in 2029 and 2030.
Artisan Global Opportunities Fund stated the following regarding GE Vernova Inc. (NYSE:GEV) in its Q4 2024 investor letter:
“Notable adds in the quarter included GE Vernova Inc. (NYSE:GEV) and Oracle. GE Vernova is the power, wind and electrification spinoff from the former GE conglomerate. The company benefits from large global market shares across its businesses, high barriers to entry and a substantial installed base that generates multiyear service revenue streams. Now that the company is standing on its own, we believe it is in the early innings of a turnaround story while benefiting from an attractive underlying demand environment. As the world continues to decarbonize, the resulting need for power, wind and electrification equipment is poised to drive attractive growth over the coming years. Our work on AI data center growth and electrification implications strengthened our conviction in GE Vernova in the quarter, particularly its natural gas business, which we believe will need to act as a bridge fuel as technology companies try to balance AI data center growth with decarbonization targets.”
While we acknowledge the growth potential of GE Vernova Inc. (NYSE:GEV), our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. 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 this cheapest AI stock.
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