abrdn plc Trims Stake in Chart Industries, Inc. (NYSE:GTLS)

abrdn plc cut its stake in shares of Chart Industries, Inc. (NYSE:GTLS) by 7.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,756 shares of the industrial products company’s stock after selling 771 shares during the quarter. abrdn plc’s holdings in Chart Industries were worth $1,330,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Nordea Investment Management AB raised its position in shares of Chart Industries by 5.5% during the 4th quarter. Nordea Investment Management AB now owns 1,948,174 shares of the industrial products company’s stock valued at $268,088,000 after purchasing an additional 101,404 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Chart Industries by 10.4% in the fourth quarter. Vontobel Holding Ltd. now owns 139,774 shares of the industrial products company’s stock valued at $19,055,000 after acquiring an additional 13,155 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in shares of Chart Industries in the fourth quarter worth about $1,366,000. Peregrine Capital Management LLC grew its position in shares of Chart Industries by 13.0% during the fourth quarter. Peregrine Capital Management LLC now owns 77,666 shares of the industrial products company’s stock worth $10,588,000 after purchasing an additional 8,938 shares in the last quarter. Finally, Archford Capital Strategies LLC raised its stake in Chart Industries by 50.7% during the 4th quarter. Archford Capital Strategies LLC now owns 2,223 shares of the industrial products company’s stock valued at $303,000 after purchasing an additional 748 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GTLS. Raymond James raised shares of Chart Industries from an “outperform” rating to a “strong-buy” rating and set a $190.00 price objective for the company in a report on Thursday, January 4th. TD Cowen lifted their price target on shares of Chart Industries from $230.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Morgan Stanley started coverage on shares of Chart Industries in a report on Thursday, April 18th. They set an “equal weight” rating and a $200.00 price objective for the company. Wells Fargo & Company lifted their target price on Chart Industries from $155.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, UBS Group upgraded Chart Industries from a “neutral” rating to a “buy” rating and raised their price target for the company from $152.00 to $170.00 in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.85.

Chart Industries Stock Performance

NYSE:GTLS opened at $148.50 on Tuesday. The firm has a market capitalization of $6.24 billion, a PE ratio of 390.79, a PEG ratio of 0.41 and a beta of 1.70. The stock’s fifty day moving average is $148.76 and its 200 day moving average is $136.21. Chart Industries, Inc. has a fifty-two week low of $106.66 and a fifty-two week high of $184.65. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.88 and a current ratio of 1.19.

Chart Industries (NYSE:GTLS) last announced its earnings results on Wednesday, February 28th. The industrial products company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.12. Chart Industries had a net margin of 1.00% and a return on equity of 9.27%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm posted $1.67 earnings per share. The business’s revenue for the quarter was up 130.0% on a year-over-year basis. On average, sell-side analysts anticipate that Chart Industries, Inc. will post 11.98 earnings per share for the current 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.