Readystate Asset Management LP Reduces Stake in Chart Industries, Inc. (NYSE:GTLS)

Readystate Asset Management LP reduced its stake in shares of Chart Industries, Inc. (NYSE:GTLS) by 39.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,299 shares of the industrial products company’s stock after selling 7,512 shares during the period. Readystate Asset Management LP’s holdings in Chart Industries were worth $1,403,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Chart Industries during the third quarter worth $34,000. UMB Bank n.a. increased its holdings in Chart Industries by 418.0% in the 3rd quarter. UMB Bank n.a. now owns 316 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 255 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in shares of Chart Industries in the second quarter valued at about $40,000. Ecofi Investissements SA purchased a new stake in Chart Industries during the 2nd quarter worth approximately $50,000. Finally, Mendota Financial Group LLC boosted its position in Chart Industries by 46.2% during the third quarter. Mendota Financial Group LLC now owns 642 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 203 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GTLS. The Goldman Sachs Group decreased their target price on shares of Chart Industries from $168.00 to $144.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Bank of America dropped their price objective on Chart Industries from $185.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Barclays lowered their price objective on shares of Chart Industries from $146.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Morgan Stanley raised shares of Chart Industries from an “equal weight” rating to an “overweight” rating and set a $175.00 target price on the stock in a research note on Monday, September 16th. Finally, Craig Hallum raised their price target on shares of Chart Industries from $199.00 to $207.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $178.82.

Insiders Place Their Bets

In related news, Director Linda S. Harty acquired 5,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was bought at an average price of $48.05 per share, for a total transaction of $240,250.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $240,250. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul E. Mahoney bought 500 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average price of $106.55 per share, for a total transaction of $53,275.00. Following the transaction, the director now directly owns 2,107 shares of the company’s stock, valued at approximately $224,500.85. This represents a 31.11 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 6,712 shares of company stock valued at $431,982. 0.95% of the stock is owned by corporate insiders.

Chart Industries Stock Performance

Shares of GTLS stock opened at $191.02 on Thursday. The company has a market cap of $8.18 billion, a P/E ratio of 55.37, a PEG ratio of 0.99 and a beta of 1.86. The firm has a fifty day moving average price of $146.59 and a 200 day moving average price of $140.40. The company has a current ratio of 1.27, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. Chart Industries, Inc. has a 12 month low of $101.60 and a 12 month high of $196.91.

Chart Industries (NYSE:GTLS) last released its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.56 by ($0.38). Chart Industries had a return on equity of 13.25% and a net margin of 4.30%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the company posted $1.28 earnings per share. The company’s revenue was up 18.3% compared to the same quarter last year. Sell-side analysts predict that Chart Industries, Inc. will post 9.03 earnings per share for the current fiscal year.

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.