Truist Financial Corp Trims Stake in Chart Industries, Inc. $GTLS

Truist Financial Corp lowered its holdings in Chart Industries, Inc. (NYSE:GTLS) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,950 shares of the industrial products company’s stock after selling 710 shares during the period. Truist Financial Corp’s holdings in Chart Industries were worth $4,767,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bourgeon Capital Management LLC bought a new position in shares of Chart Industries in the second quarter worth approximately $3,712,000. Janney Montgomery Scott LLC grew its stake in Chart Industries by 6.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 43,325 shares of the industrial products company’s stock worth $7,134,000 after buying an additional 2,508 shares in the last quarter. Enclave Advisors LLC bought a new position in shares of Chart Industries in the 2nd quarter worth $205,000. First American Bank raised its position in shares of Chart Industries by 2.0% during the 2nd quarter. First American Bank now owns 9,419 shares of the industrial products company’s stock valued at $1,551,000 after buying an additional 187 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Chart Industries by 2.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,048 shares of the industrial products company’s stock worth $831,000 after acquiring an additional 120 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have weighed in on GTLS. Weiss Ratings restated a “hold (c+)” rating on shares of Chart Industries in a research report on Saturday, September 27th. Lake Street Capital lowered Chart Industries from a “strong-buy” rating to a “hold” rating and set a $210.00 price objective on the stock. in a research report on Wednesday, July 30th. UBS Group reissued a “neutral” rating and set a $210.00 price objective (down from $225.00) on shares of Chart Industries in a report on Wednesday, July 30th. Cowen lowered Chart Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, Johnson Rice cut Chart Industries from a “strong-buy” rating to a “hold” rating and set a $210.00 price objective on the stock. in a research note on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $202.00.

Chart Industries Stock Up 0.1%

Shares of NYSE:GTLS opened at $200.15 on Wednesday. Chart Industries, Inc. has a 52-week low of $104.60 and a 52-week high of $220.03. The firm has a market capitalization of $9.00 billion, a P/E ratio of 37.20, a P/E/G ratio of 1.16 and a beta of 1.71. The stock has a 50 day moving average price of $199.18 and a 200-day moving average price of $168.34. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.27 and a current ratio of 1.55.

Chart Industries (NYSE:GTLS) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $2.59 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.03). The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Chart Industries had a return on equity of 13.71% and a net margin of 6.29%. As a group, equities research analysts anticipate that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

Chart Industries Profile

Chart Industries, Inc engages in the designing, engineering, and manufacturing of process technologies and equipment for the gas and liquid molecules in the United States and internationally. The company operates in four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.