Perpetual Ltd Grows Stake in Chart Industries, Inc. (NYSE:GTLS)

Perpetual Ltd grew its position in shares of Chart Industries, Inc. (NYSE:GTLS) by 24.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 543,933 shares of the industrial products company’s stock after purchasing an additional 105,236 shares during the period. Perpetual Ltd owned approximately 1.29% of Chart Industries worth $89,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GTLS. Norges Bank purchased a new position in Chart Industries in the fourth quarter worth $57,415,000. Federated Hermes Inc. boosted its position in Chart Industries by 83.9% during the third quarter. Federated Hermes Inc. now owns 592,238 shares of the industrial products company’s stock valued at $100,159,000 after buying an additional 270,133 shares during the period. Gates Capital Management Inc. boosted its position in Chart Industries by 50.5% during the fourth quarter. Gates Capital Management Inc. now owns 677,206 shares of the industrial products company’s stock valued at $92,323,000 after buying an additional 227,280 shares during the period. Intrinsic Edge Capital Management LLC purchased a new stake in Chart Industries during the fourth quarter valued at about $27,672,000. Finally, Nordea Investment Management AB boosted its position in Chart Industries by 5.5% during the fourth quarter. Nordea Investment Management AB now owns 1,948,174 shares of the industrial products company’s stock valued at $268,088,000 after buying an additional 101,404 shares during the period.

Chart Industries Stock Up 0.5 %

Shares of NYSE GTLS traded up $0.72 on Thursday, reaching $143.10. 329,863 shares of the company’s stock traded hands, compared to its average volume of 567,006. Chart Industries, Inc. has a 12 month low of $109.48 and a 12 month high of $184.65. The business’s 50 day simple moving average is $150.77 and its two-hundred day simple moving average is $141.06. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 143.10, a price-to-earnings-growth ratio of 0.40 and a beta of 1.72. The company has a quick ratio of 0.95, a current ratio of 1.25 and a debt-to-equity ratio of 1.29.

Chart Industries (NYSE:GTLS) last announced its earnings results on Friday, May 3rd. The industrial products company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.39). Chart Industries had a net margin of 1.59% and a return on equity of 9.49%. The business had revenue of $950.70 million for the quarter, compared to the consensus estimate of $970.91 million. During the same period in the prior year, the business posted $1.41 EPS. Chart Industries’s revenue for the quarter was up 76.7% on a year-over-year basis. As a group, equities research analysts forecast that Chart Industries, Inc. will post 11.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GTLS has been the subject of several analyst reports. Stifel Nicolaus cut their price target on shares of Chart Industries from $224.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Morgan Stanley initiated coverage on shares of Chart Industries in a research report on Thursday, April 18th. They set an “equal weight” rating and a $200.00 price target for the company. Wells Fargo & Company upped their price target on shares of Chart Industries from $155.00 to $172.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Barclays began coverage on shares of Chart Industries in a research note on Wednesday, May 8th. They set an “equal weight” rating and a $193.00 price objective for the company. Finally, TD Cowen upped their price objective on shares of Chart Industries from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $197.57.

About Chart Industries

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.