Iridian Asset Management Reduces Stake in Chart Industries
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: NASDAQ.COM
- Stake Reduction: Iridian Asset Management sold 23,051 shares of Chart Industries in Q4, with an estimated transaction value of $4.67 million, reflecting a strategic response to market volatility.
- Declining Position Value: The fund's quarter-end position value decreased by $4.58 million, indicating the dual impact of trading activity and stock price movements, leaving it with 6,326 shares valued at $1.30 million.
- Underperformance: Chart Industries' stock price fell 4% over the past year, significantly underperforming the S&P 500's approximately 14% gain, suggesting market caution regarding its future growth prospects.
- Acquisition Agreement Impact: The definitive agreement with Baker Hughes for $210 per share fundamentally changed the stock's return profile, prompting Iridian to adjust its holdings to mitigate potential opportunity costs.
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Analyst Views on GTLS
Wall Street analysts forecast GTLS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GTLS is 210.67 USD with a low forecast of 210.00 USD and a high forecast of 212.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
0 Buy
5 Hold
0 Sell
Hold
Current: 207.270
Low
210.00
Averages
210.67
High
212.00
Current: 207.270
Low
210.00
Averages
210.67
High
212.00
About GTLS
Chart Industries, Inc. is engaged in the designing, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling for the Nexus of Clean-clean power, clean water, clean food, and clean industrials, regardless of molecule. The Company's Cryo Tank Solutions segment designs and manufactures and supplies bulk, microbulk and mobile equipment used in the storage, distribution, vaporization, and application of industrial gases and certain hydrocarbons. Its Heat Transfer Systems segment facilitates natural gas, petrochemical processing, petroleum refining, power generation and industrial gas companies in the production or processing of their products. Its Specialty Products segment supplies highly engineered equipment and process technologies used in specialty end-market applications for hydrogen and helium, LNG, biofuels, carbon capture, food and beverage, metals and mining, aerospace, space exploration, lasers, and water treatment, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Paradice Investment Management Exits Chart Industries Stake
- Share Sale Overview: Paradice Investment Management disclosed in a January 28 SEC filing that it sold all 58,813 shares of Chart Industries during Q4, with an estimated transaction value of $11.77 million, significantly reducing the quarter-end value of its stake.
- Impact of Holdings Change: The complete exit from Chart Industries indicates Paradice's uncertainty regarding the company's future performance, particularly as the acquisition deal with Baker Hughes remains pending and unclosed.
- Company Performance Highlights: Despite the sale, Chart Industries reported record orders of $1.68 billion in Q3, a nearly 44% year-over-year increase, reflecting strong demand in LNG and specialty products, with an adjusted operating margin reaching 22.9%.
- Market Outlook Analysis: Chart Industries' stock is currently trading close to the $210 cash acquisition price, and while the transaction is not expected to close until mid-2026, the reassessment of its risk profile may lead investors to consider reallocating funds into higher-conviction industrial stocks or companies with cleaner balance sheets.
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Iridian Asset Management Sells Shares of Chart Industries
- Share Reduction: Iridian Asset Management disclosed a sale of 23,051 shares of Chart Industries during Q4, with an estimated transaction value of $4.67 million, indicating a cautious outlook on the company's future growth.
- Holding Adjustment: Following the sale, Iridian's stake in Chart Industries decreased to 6,326 shares valued at $1.30 million, representing only 0.48% of reportable AUM, reflecting diminished confidence in the stock.
- Market Performance: As of January 22, Chart Industries shares were priced at $207.49, down 4% over the past year, significantly underperforming the S&P 500's 14% gain, highlighting market concerns regarding its prospects.
- Transaction Context: With Chart Industries entering a definitive agreement to be acquired by Baker Hughes at $210 per share, investors are becoming more cautious in capital allocation, particularly as portfolio concentration in higher-beta assets increases.
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