SCP Investment LP Cuts Stake in Chart Industries, Inc. (NYSE:GTLS)

SCP Investment LP decreased its position in Chart Industries, Inc. (NYSE:GTLS) by 71.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,800 shares of the industrial products company’s stock after selling 7,000 shares during the period. Chart Industries comprises 0.4% of SCP Investment LP’s portfolio, making the stock its 27th largest holding. SCP Investment LP’s holdings in Chart Industries were worth $534,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in Chart Industries by 129.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 163 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 92 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of Chart Industries in the fourth quarter valued at approximately $34,000. Blue Trust Inc. grew its holdings in Chart Industries by 56.0% during the fourth quarter. Blue Trust Inc. now owns 181 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 65 shares during the period. Spire Wealth Management raised its position in Chart Industries by 183.8% in the fourth quarter. Spire Wealth Management now owns 193 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 125 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in Chart Industries by 43.4% in the fourth quarter. Lindbrook Capital LLC now owns 228 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 69 shares during the period.

Chart Industries Price Performance

Chart Industries stock opened at $147.48 on Friday. The stock has a market capitalization of $6.74 billion, a P/E ratio of 42.75, a P/E/G ratio of 0.57 and a beta of 1.87. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.27 and a quick ratio of 1.00. Chart Industries, Inc. has a 12-month low of $101.60 and a 12-month high of $220.03. The firm’s 50-day moving average is $181.51 and its two-hundred day moving average is $168.33.

Chart Industries (NYSE:GTLS) last released its earnings results on Friday, February 28th. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.20 by ($0.54). Chart Industries had a net margin of 4.30% and a return on equity of 13.25%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm posted $2.25 earnings per share. Chart Industries’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts predict that Chart Industries, Inc. will post 9.02 earnings per share for the current year.

Insider Activity

In other Chart Industries news, VP Gerald F. Vinci purchased 175 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $147.89 per share, for a total transaction of $25,880.75. Following the completion of the acquisition, the vice president now owns 475 shares of the company’s stock, valued at approximately $70,247.75. This represents a 58.33 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jillian C. Evanko acquired 350 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were acquired at an average price of $150.35 per share, with a total value of $52,622.50. Following the completion of the purchase, the chief executive officer now owns 137,666 shares of the company’s stock, valued at $20,698,083.10. This trade represents a 0.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 1,109 shares of company stock valued at $160,845 in the last three months. Corporate insiders own 0.95% of the company’s stock.

Wall Street Analyst Weigh In

GTLS has been the subject of several recent analyst reports. BTIG Research raised their price objective on shares of Chart Industries from $170.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Wells Fargo & Company decreased their price target on Chart Industries from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group raised their price objective on Chart Industries from $138.00 to $201.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Morgan Stanley lowered their target price on Chart Industries from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus lifted their price target on Chart Industries from $200.00 to $231.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $202.33.

Chart Industries Company 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.