State Street Corp Reduces Stake in ONE Gas Inc
State Street Corp, a prominent investment firm based in Boston, recently executed a significant transaction involving shares of ONE Gas Inc. (NYSE:OGS). This article provides an in-depth analysis of the transaction, the profiles of both State Street Corp and ONE Gas Inc, and the potential implications for investors.
Details of the Transaction
On July 31, 2023, State Street Corp reduced its stake in ONE Gas Inc by 3,094,921 shares, representing a 49.39% decrease in their holdings. The shares were traded at a price of $79.13 each. Following this transaction, State Street Corp now holds 3,171,740 shares of ONE Gas Inc, accounting for 0.01% of their portfolio and 5.72% of ONE Gas Inc's total shares.
Profile of State Street Corp
State Street Corp is a renowned investment firm located at One Lincoln Street, Boston, MA. The firm manages a vast equity portfolio worth $1,769.19 trillion, spread across 4,579 stocks. Their top holdings include Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), Microsoft Corp (NASDAQ:MSFT), NVIDIA Corp (NASDAQ:NVDA), and Exxon Mobil Corp (NYSE:XOM). The firm's investments are primarily concentrated in the Technology and Healthcare sectors.
Overview of ONE Gas Inc
ONE Gas Inc, symbol OGS, is a regulated natural gas utility company based in the USA. The company is involved in the distribution and sale of natural gas to residential, commercial, industrial, and transportation consumers in Oklahoma, Kansas, and Texas. ONE Gas Inc went public on January 16, 2014, and currently has a market capitalization of $4.22 billion. The company's financial performance is solid, with a PE percentage of 18.60 and a GF Score of 82/100, indicating good outperformance potential.
Analysis of ONE Gas Inc's Stock Performance
Since the transaction, ONE Gas Inc's stock price has decreased by 3.84% to $76.09. However, the stock has seen a significant increase of 130.51% since its IPO. The company's year-to-date price change ratio stands at -0.28. ONE Gas Inc's stock ranks are also noteworthy, with a balance sheet rank of 4/10, a profitability rank of 7/10, and a growth rank of 7/10.
Other Gurus' Investment in ONE Gas Inc
Hotchkis & Wiley Capital Management LLC is the largest guru holding shares in ONE Gas Inc. Other notable gurus with stakes in the company include Mario Gabelli (Trades, Portfolio).
Conclusion
In conclusion, State Street Corp's recent transaction has slightly reduced its exposure to ONE Gas Inc. However, the firm still holds a significant stake in the company. With ONE Gas Inc's solid financial performance and promising GF Score, it remains an attractive investment for gurus and investors alike. As always, investors are advised to conduct their own comprehensive analysis before making investment decisions.
This article first appeared on GuruFocus.
