Verition Fund Management LLC Grows Position in Chart Industries, Inc. $GTLS

Verition Fund Management LLC increased its holdings in Chart Industries, Inc. (NYSE:GTLS) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 247,537 shares of the industrial products company’s stock after acquiring an additional 43,951 shares during the quarter. Verition Fund Management LLC’s holdings in Chart Industries were worth $51,050,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. HighTower Advisors LLC lifted its stake in Chart Industries by 0.6% in the fourth quarter. HighTower Advisors LLC now owns 8,204 shares of the industrial products company’s stock worth $1,692,000 after acquiring an additional 50 shares during the period. Stephens Inc. AR lifted its stake in Chart Industries by 3.8% in the fourth quarter. Stephens Inc. AR now owns 1,389 shares of the industrial products company’s stock worth $286,000 after acquiring an additional 51 shares during the period. IFP Advisors Inc lifted its stake in Chart Industries by 4.2% in the third quarter. IFP Advisors Inc now owns 1,474 shares of the industrial products company’s stock worth $302,000 after acquiring an additional 59 shares during the period. Lifestyle Asset Management Inc. raised its holdings in Chart Industries by 2.6% in the fourth quarter. Lifestyle Asset Management Inc. now owns 2,314 shares of the industrial products company’s stock worth $477,000 after purchasing an additional 59 shares in the last quarter. Finally, Archford Capital Strategies LLC raised its holdings in Chart Industries by 1.7% in the fourth quarter. Archford Capital Strategies LLC now owns 3,667 shares of the industrial products company’s stock worth $756,000 after purchasing an additional 60 shares in the last quarter.

Chart Industries Stock Performance

GTLS opened at $206.62 on Monday. Chart Industries, Inc. has a 52-week low of $140.50 and a 52-week high of $208.76. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. The company has a market cap of $9.89 billion, a P/E ratio of 794.72, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The firm’s 50-day moving average price is $207.57 and its 200-day moving average price is $206.91.

Wall Street Analyst Weigh In

A number of brokerages have commented on GTLS. Zacks Research downgraded shares of Chart Industries from a “hold” rating to a “strong sell” rating in a report on Monday, April 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Chart Industries in a report on Friday, March 27th. Finally, Wall Street Zen downgraded shares of Chart Industries from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Eleven analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Chart Industries presently has an average rating of “Reduce” and an average target price of $201.80.

Chart Industries Profile

Chart Industries, Inc (NYSE: GTLS) is a leading global manufacturer of engineered equipment for the storage, distribution and end-use of hydrocarbon and industrial gases. The company specializes in cryogenic systems and components, serving key markets such as energy, chemical processing, industrial gas, food and beverage, and medical gases. Chart’s product portfolio includes large-scale cryogenic storage tanks, vaporizers, heat exchangers and pump systems designed to maintain gases in liquid and gaseous states under extreme conditions.

Founded in 1992 and headquartered in Ball Ground, Georgia, Chart Industries has evolved through targeted acquisitions and organic growth to expand its technological capabilities and geographic reach.