CLARET ASSET MANAGEMENT Corp lowered its stake in shares of Chart Industries, Inc. (NASDAQ:GTLS) by 8.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,038 shares of the industrial products company’s stock after selling 4,004 shares during the period. CLARET ASSET MANAGEMENT Corp owned 0.12% of Chart Industries worth $2,746,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Chart Industries by 12.6% during the 2nd quarter. BlackRock Inc. now owns 5,106,373 shares of the industrial products company’s stock worth $392,575,000 after purchasing an additional 569,836 shares in the last quarter. Vanguard Group Inc. raised its stake in Chart Industries by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,577,954 shares of the industrial products company’s stock valued at $275,072,000 after acquiring an additional 256,912 shares during the period. Northern Trust Corp raised its stake in Chart Industries by 6.8% in the 2nd quarter. Northern Trust Corp now owns 734,988 shares of the industrial products company’s stock valued at $56,505,000 after acquiring an additional 46,820 shares during the period. Invesco Ltd. raised its stake in Chart Industries by 791.7% in the 2nd quarter. Invesco Ltd. now owns 698,418 shares of the industrial products company’s stock valued at $53,694,000 after acquiring an additional 620,090 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Chart Industries by 5,240.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 563,995 shares of the industrial products company’s stock valued at $42,164,000 after acquiring an additional 553,435 shares during the period.
A number of research firms recently weighed in on GTLS. Morgan Stanley dropped their price target on Chart Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday. Credit Suisse Group began coverage on Chart Industries in a research note on Tuesday, August 13th. They issued an “outperform” rating and a $83.00 price target on the stock. Zacks Investment Research cut Chart Industries from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub cut Chart Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 3rd. Finally, ValuEngine upgraded Chart Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $79.79.
In other news, Director Carey Chen acquired 3,403 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $59.73 per share, with a total value of $203,261.19. Following the acquisition, the director now directly owns 5,500 shares in the company, valued at approximately $328,515. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.28% of the company’s stock.
NASDAQ GTLS traded up $1.98 on Friday, reaching $58.88. The stock had a trading volume of 9,762 shares, compared to its average volume of 413,481. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.00 and a quick ratio of 1.36. The firm has a fifty day moving average of $63.29 and a two-hundred day moving average of $74.73. Chart Industries, Inc. has a 1-year low of $55.62 and a 1-year high of $95.66. The company has a market cap of $2.01 billion, a P/E ratio of 29.09 and a beta of 1.18.
Chart Industries (NASDAQ:GTLS) last issued its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Chart Industries had a return on equity of 8.67% and a net margin of 7.34%. The firm had revenue of $309.60 million for the quarter, compared to analyst estimates of $322.35 million. During the same period in the prior year, the firm posted $0.48 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. Research analysts predict that Chart Industries, Inc. will post 3.03 EPS for the current fiscal year.
About Chart Industries
Chart Industries, Inc manufactures and sells engineered equipment and packaged solutions; and provides value-add services for the energy and industrial gas industries worldwide. It operates through three segments: Energy & Chemicals, Distribution & Storage Western Hemisphere, and Distribution & Storage Eastern Hemisphere segments.
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