Engaged Capital LLC Buys New Stake in Chart Industries, Inc. (NYSE:GTLS)

Engaged Capital LLC purchased a new position in Chart Industries, Inc. (NYSE:GTLS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 224,796 shares of the industrial products company's stock, valued at approximately $42,900,000. Chart Industries comprises 8.8% of Engaged Capital LLC's investment portfolio, making the stock its 7th largest position. Engaged Capital LLC owned about 0.53% of Chart Industries at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GTLS. Virtu Financial LLC bought a new stake in Chart Industries during the 3rd quarter valued at $251,000. Retirement Systems of Alabama raised its holdings in shares of Chart Industries by 0.9% in the third quarter. Retirement Systems of Alabama now owns 114,841 shares of the industrial products company's stock valued at $14,256,000 after acquiring an additional 996 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Chart Industries by 248.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 22,257 shares of the industrial products company's stock worth $2,744,000 after acquiring an additional 15,862 shares during the period. Principal Financial Group Inc. lifted its stake in Chart Industries by 4.2% in the third quarter. Principal Financial Group Inc. now owns 802,907 shares of the industrial products company's stock worth $99,673,000 after acquiring an additional 32,442 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Chart Industries by 74.0% during the 4th quarter. GAMMA Investing LLC now owns 581 shares of the industrial products company's stock worth $111,000 after acquiring an additional 247 shares in the last quarter.

Chart Industries Stock Performance

Shares of Chart Industries stock traded up $0.72 during midday trading on Tuesday, hitting $135.75. The company had a trading volume of 470,713 shares, compared to its average volume of 709,358. The company has a fifty day simple moving average of $145.02 and a 200 day simple moving average of $169.11. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 0.57 and a beta of 1.68. 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.

Chart Industries (NYSE:GTLS - Get Free Report) last posted its quarterly 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). The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.17 billion. Chart Industries had a return on equity of 13.25% and a net margin of 4.30%. The company's quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.25 EPS. As a group, analysts predict that Chart Industries, Inc. will post 9.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GTLS. Citigroup upped their price target on shares of Chart Industries from $190.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. TD Cowen upped their target price on Chart Industries from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. The Goldman Sachs Group cut their price target on Chart Industries from $197.00 to $173.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on Chart Industries from $214.00 to $208.00 and set an "overweight" rating for the company in a research note on Tuesday, April 1st. Finally, Barclays cut their target price on Chart Industries from $165.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.67.

Insider Buying and Selling at Chart Industries

In other Chart Industries news, Director Linda S. Harty bought 500 shares of Chart Industries 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 directly owns 11,684 shares in the company, valued at approximately $1,645,691.40. This trade represents a 4.47 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jillian C. Evanko bought 350 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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. In the last 90 days, insiders have bought 1,109 shares of company stock worth $160,845. 0.99% of the stock is currently owned by insiders.

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.