Healthcare Sector Ideas

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>>> GEHC / General Electric Co (NYSE:GE)

https://www.insidermonkey.com/blog/5-best-wind-power-and-solar-stocks-to-buy-3-1262185/5/

Number of Hedge Fund Investors: 92

With a gigantic green energy arm Vernova, General Electric Co (NYSE:GE) is among the top favorite wind power and solar stocks to buy according to hedge funds. General Electric Co (NYSE:GE) plans to spin off its Vernova unit by April 2024 after which Vernova would be a publicly traded company. Vernova has 55,000 wind turbines and 7,000 gas turbines. General Electric Co (NYSE:GE) says its technology helps generate a whopping 30% of the world’s electricity.

A total of 92 hedge funds tracked by Insider Monkey had stakes in General Electric Co (NYSE:GE) as of the end of the fourth quarter of 2023.

Longleaf Partners Fund stated the following regarding General Electric Company (NYSE:GE) in its fourth quarter 2023 investor letter:

“General Electric Company (NYSE:GE) – Industrial conglomerate General Electric (GE) was the top performer for the year. We exited this multi-year investment as its price went above our appraisal. In 1Q23, GE spun out GE Healthcare, which we sold as it traded at our value. The share price continued its strong performance throughout the spring and summer, and we ultimately sold the position in the third quarter when we no longer saw a margin of safety for the business. CEO Larry Culp was a great partner who created significant value for shareholders by reducing leverage, cutting costs, streamlining operations, improving company culture and simplifying the structure with plans to split the company into three businesses. We hope to have the opportunity to partner with him again in the future.”

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