Blackstone Inc. (Trades, Portfolio), a leading investment firm, recently made a significant transaction in its portfolio. On August 14, 2023, the firm reduced its stake in Gates Industrial Corp PLC (GTES, Financial), a prominent manufacturer of engineered power transmission and fluid power solutions. This article will delve into the details of this transaction, provide an overview of both Blackstone Inc. (Trades, Portfolio) and Gates Industrial Corp PLC, and analyze the potential implications of this move.
Details of the Transaction
Blackstone Inc. (Trades, Portfolio) sold 117,951,211 shares of Gates Industrial Corp PLC, representing a 90.19% reduction in its holdings. The shares were traded at a price of $11.57 each. Following this transaction, Blackstone Inc. (Trades, Portfolio) now holds 12,826,746 shares of Gates Industrial Corp PLC, accounting for 0.68% of its portfolio. Despite the reduction, Blackstone Inc. (Trades, Portfolio) still holds a significant 4.86% stake in Gates Industrial Corp PLC. The transaction had a -5.85% impact on Blackstone Inc. (Trades, Portfolio)'s portfolio.
Profile of Blackstone Inc. (Trades, Portfolio)
Blackstone Inc. (Trades, Portfolio), headquartered at 345 Park Avenue, New York, is a renowned investment firm with a diverse portfolio. The firm holds 145 stocks, with a total equity of $23.34 billion. Its top holdings include Cheniere Energy Partners LP (CQP, Financial), Energy Transfer LP (ET, Financial), FirstEnergy Corp (FE, Financial), MPLX LP (MPLX, Financial), and Gates Industrial Corp PLC (GTES, Financial). The firm's investments are primarily concentrated in the Energy and Utilities sectors.
Overview of Gates Industrial Corp PLC
Gates Industrial Corp PLC, based in the USA, is a leading manufacturer of engineered power transmission and fluid power solutions. The company operates in two segments: Power Transmission and Fluid Power. The company's market capitalization stands at $3.04 billion, with its stock currently priced at $11.51. 
Analysis of Gates Industrial Corp PLC's Stock
The stock of Gates Industrial Corp PLC has a PE percentage of 14.39. According to GuruFocus, the stock is modestly undervalued with a GF Value of $15.76 and a price to GF Value ratio of 0.73. Since the transaction, the stock has seen a slight decrease of 0.52%. Since its IPO in 2018, the stock has decreased by 39.58%. The year-to-date price change ratio stands at -0.52%.
Evaluation of Gates Industrial Corp PLC's Financial Health
Gates Industrial Corp PLC has a GF Score of 81/100, indicating good outperformance potential. The company's financial strength is rated 5/10, with a profitability rank of 7/10 and a growth rank of 5/10. The company's Piotroski F-Score is 7, and its Altman Z score is 1.68, indicating financial stability. The company's cash to debt ratio is 0.21, and its interest coverage is 2.93.
Comparison with Other Gurus
Other gurus such as HOTCHKIS & WILEY, Robert Olstein (Trades, Portfolio), and Joel Greenblatt (Trades, Portfolio) also hold shares in Gates Industrial Corp PLC. The largest guru holder of the stock is Brandes Investment.
Conclusion
In conclusion, Blackstone Inc. (Trades, Portfolio)'s recent transaction has significantly reduced its stake in Gates Industrial Corp PLC. Despite this, the firm still holds a considerable position in the company. The transaction's impact on the stock and Blackstone Inc. (Trades, Portfolio)'s portfolio will be closely watched by investors. As of August 17, 2023, all data and rankings are accurate and based on the provided relative data.
