Decagon Acquires 137,732 Shares of Chart Industries for $27.57 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 24 2025
0mins
Should l Buy GTLS?
Source: Fool
- New Investment Position: Decagon Asset Management initiated a new stake in Chart Industries by acquiring 137,732 shares valued at approximately $27.57 million during Q3, indicating confidence in the company's future growth potential.
- Portfolio Optimization: This acquisition makes Chart Industries a significant holding, accounting for 13.92% of Decagon's 13F reportable assets, reflecting a strategic focus on capital-intensive infrastructure investments.
- Performance Growth Highlight: Chart Industries reported third-quarter orders of $1.68 billion, up roughly 44% year-over-year, pushing the company's backlog to a record $6.05 billion, showcasing strong market demand and business stability.
- Profitability Enhancement: Although reported earnings were impacted by transaction-related costs, adjusted operating income reached $251.5 million with adjusted EBITDA of $277.1 million, approximately 25% of revenue, indicating a significant improvement in core business profitability.
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Analyst Views on GTLS
Wall Street analysts forecast GTLS stock price to rise
5 Analyst Rating
0 Buy
5 Hold
0 Sell
Hold
Current: 206.640
Low
210.00
Averages
210.67
High
212.00
Current: 206.640
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.
See More
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.
See More
Iridian Asset Management Reduces Stake in Chart Industries
- 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.
See More
Iridian Asset Management Sells 23,051 Shares of Chart Industries for $4.67 Million
- Share Reduction: Iridian Asset Management sold 23,051 shares of Chart Industries in Q4, valued at approximately $4.67 million, reducing its stake from 2.3% to 0.48%, indicating a cautious outlook on market prospects.
- Quarter-End Position Change: As of December 31, Iridian's position in Chart Industries was valued at $1.30 million, down $4.58 million from the previous quarter, reflecting a strategic adjustment in capital allocation.
- 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, suggesting a lack of confidence in future growth.
- Acquisition Agreement Impact: Chart Industries has entered into a definitive agreement with Baker Hughes to be acquired at $210 per share, prompting investors to reassess their positions as deal timing and risk become critical considerations.
See More
Iridian Asset Management Sells 23,051 Shares of Chart Industries for $4.67 Million
- Holding Reduction: Iridian Asset Management sold 23,051 shares of Chart Industries in Q4 for approximately $4.67 million, indicating a diminished confidence in the stock as its holding dropped to 0.48% of AUM.
- Quarter-End Value Decline: The fund's quarter-end position value decreased by $4.58 million, reflecting the dual impact of trading activity and stock price fluctuations, suggesting a cautious market outlook for Chart Industries.
- Acquisition Agreement Impact: With Chart Industries entering a definitive agreement to be acquired by Baker Hughes for $210 per share in cash, the stock's return profile has fundamentally changed, making Iridian's trimming of its position appear prudent amid market uncertainties.
- Performance Highlights: Despite incurring $266 million in merger-related expenses, Chart Industries achieved a record $1.68 billion in orders in Q3, up nearly 44% year-over-year, demonstrating strong demand in LNG and carbon capture sectors.
See More
Iridian Asset Management Sells 23,051 Shares of Chart Industries for $4.67 Million
- Share Reduction: Iridian Asset Management sold 23,051 shares of Chart Industries in Q4, with an estimated transaction value of $4.67 million, reflecting a diminished confidence in the stock, reducing its position to 0.48% of reportable AUM.
- Quarter-End Position Change: As of December 31, the value of Iridian's holdings in Chart Industries decreased by $4.58 million, indicating the impact of market fluctuations and trading activities on its portfolio, suggesting a strategic adjustment in response to market conditions.
- 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 the company's relative weakness in the market.
- Acquisition Agreement Impact: Chart Industries has entered into a definitive acquisition agreement with Baker Hughes at $210 per share, fundamentally altering the stock's return profile, making Iridian's decision to trim its position more rational, especially given its portfolio's concentration in higher-beta stocks.
See More
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.
See More
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.
See More
Iridian Asset Management Reduces Stake in Chart Industries
- 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.
See More
Iridian Asset Management Sells 23,051 Shares of Chart Industries for $4.67 Million
- Share Reduction: Iridian Asset Management sold 23,051 shares of Chart Industries in Q4, valued at approximately $4.67 million, reducing its stake from 2.3% to 0.48%, indicating a cautious outlook on market prospects.
- Quarter-End Position Change: As of December 31, Iridian's position in Chart Industries was valued at $1.30 million, down $4.58 million from the previous quarter, reflecting a strategic adjustment in capital allocation.
- 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, suggesting a lack of confidence in future growth.
- Acquisition Agreement Impact: Chart Industries has entered into a definitive agreement with Baker Hughes to be acquired at $210 per share, prompting investors to reassess their positions as deal timing and risk become critical considerations.
See More
Iridian Asset Management Sells 23,051 Shares of Chart Industries for $4.67 Million
- Holding Reduction: Iridian Asset Management sold 23,051 shares of Chart Industries in Q4 for approximately $4.67 million, indicating a diminished confidence in the stock as its holding dropped to 0.48% of AUM.
- Quarter-End Value Decline: The fund's quarter-end position value decreased by $4.58 million, reflecting the dual impact of trading activity and stock price fluctuations, suggesting a cautious market outlook for Chart Industries.
- Acquisition Agreement Impact: With Chart Industries entering a definitive agreement to be acquired by Baker Hughes for $210 per share in cash, the stock's return profile has fundamentally changed, making Iridian's trimming of its position appear prudent amid market uncertainties.
- Performance Highlights: Despite incurring $266 million in merger-related expenses, Chart Industries achieved a record $1.68 billion in orders in Q3, up nearly 44% year-over-year, demonstrating strong demand in LNG and carbon capture sectors.
See More
Iridian Asset Management Sells 23,051 Shares of Chart Industries for $4.67 Million
- Share Reduction: Iridian Asset Management sold 23,051 shares of Chart Industries in Q4, with an estimated transaction value of $4.67 million, reflecting a diminished confidence in the stock, reducing its position to 0.48% of reportable AUM.
- Quarter-End Position Change: As of December 31, the value of Iridian's holdings in Chart Industries decreased by $4.58 million, indicating the impact of market fluctuations and trading activities on its portfolio, suggesting a strategic adjustment in response to market conditions.
- 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 the company's relative weakness in the market.
- Acquisition Agreement Impact: Chart Industries has entered into a definitive acquisition agreement with Baker Hughes at $210 per share, fundamentally altering the stock's return profile, making Iridian's decision to trim its position more rational, especially given its portfolio's concentration in higher-beta stocks.
See More
