SCP Investment LP Sells 7,000 Shares of Chart Industries, Inc. (NYSE:GTLS)

SCP Investment LP lowered its stake in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) by 71.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,800 shares of the industrial products company's stock after selling 7,000 shares during the quarter. Chart Industries accounts for 0.4% of SCP Investment LP's investment portfolio, making the stock its 27th largest holding. SCP Investment LP's holdings in Chart Industries were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in Chart Industries during the fourth quarter worth $88,609,000. Wellington Management Group LLP raised its stake in shares of Chart Industries by 90.9% during the 3rd quarter. Wellington Management Group LLP now owns 551,482 shares of the industrial products company's stock worth $68,461,000 after purchasing an additional 262,592 shares during the period. Keybank National Association OH grew its position in Chart Industries by 10,372.6% during the fourth quarter. Keybank National Association OH now owns 246,734 shares of the industrial products company's stock valued at $47,087,000 after buying an additional 244,378 shares during the period. Van Berkom & Associates Inc. purchased a new stake in Chart Industries during the fourth quarter worth about $35,543,000. Finally, Braun Stacey Associates Inc. bought a new stake in Chart Industries in the fourth quarter worth about $16,631,000.

Chart Industries Stock Down 14.2 %

Shares of NYSE:GTLS traded down $21.55 during trading on Thursday, hitting $129.76. The stock had a trading volume of 456,637 shares, compared to its average volume of 677,051. The company has a quick ratio of 1.00, a current ratio of 1.27 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 $220.03. The company has a market capitalization of $5.93 billion, a PE ratio of 37.61, a PEG ratio of 0.57 and a beta of 1.87. The firm's fifty day moving average is $177.40 and its 200 day moving average is $169.07.

Remove Ads

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group increased their price objective on Chart Industries from $138.00 to $201.00 and gave the company a "neutral" rating in a report on Friday, December 20th. Stifel Nicolaus increased their price objective on Chart Industries from $200.00 to $231.00 and gave the stock a "buy" rating in a report on Tuesday, December 31st. Morgan Stanley reduced their price target on shares of Chart Industries from $275.00 to $250.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. BTIG Research lifted their price objective on Chart Industries from $170.00 to $210.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Finally, TD Cowen boosted their target price on Chart Industries from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $201.83.

Insider Activity at Chart Industries

In other news, VP Gerald F. Vinci purchased 175 shares of the business's stock in a transaction dated 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 directly owns 475 shares in the company, valued at $70,247.75. This represents a 58.33 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Linda S. Harty acquired 500 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $140.85 per share, with a total value of $70,425.00. Following the completion of the acquisition, the director now owns 11,684 shares in the company, valued at $1,645,691.40. The trade was a 4.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 1,109 shares of company stock valued at $160,845 in the last 90 days. Corporate insiders own 0.95% of the company's stock.

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.