Envestnet Asset Management Inc. Increases Position in Chart Industries, Inc. (NYSE:GTLS)

Envestnet Asset Management Inc. raised its holdings in Chart Industries, Inc. (NYSE:GTLS) by 7.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,617 shares of the industrial products company’s stock after purchasing an additional 3,948 shares during the quarter. Envestnet Asset Management Inc. owned 0.13% of Chart Industries worth $8,318,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Wolf Hill Capital Management LP purchased a new stake in shares of Chart Industries during the 4th quarter worth $101,121,000. Norges Bank acquired a new position in Chart Industries in the fourth quarter valued at $88,609,000. Dimensional Fund Advisors LP increased its stake in Chart Industries by 37.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,064,637 shares of the industrial products company’s stock valued at $203,178,000 after purchasing an additional 291,520 shares during the period. Engaged Capital LLC acquired a new position in Chart Industries in the fourth quarter valued at $42,900,000. Finally, Frontier Capital Management Co. LLC increased its stake in shares of Chart Industries by 920.6% during the fourth quarter. Frontier Capital Management Co. LLC now owns 234,069 shares of the industrial products company’s stock worth $44,670,000 after acquiring an additional 211,134 shares during the period.

Chart Industries Stock Down 2.3%

Shares of NYSE:GTLS opened at $167.82 on Tuesday. Chart Industries, Inc. has a 1 year low of $101.60 and a 1 year high of $220.03. The business has a fifty day moving average price of $159.61 and a two-hundred day moving average price of $165.08. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.51 and a quick ratio of 1.21. The company has a market capitalization of $7.67 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 0.67 and a beta of 1.68.

Chart Industries (NYSE:GTLS) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.02. Chart Industries had a return on equity of 13.93% and a net margin of 5.93%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company posted $1.49 earnings per share. The firm’s revenue was up 38.8% on a year-over-year basis. Analysts forecast that Chart Industries, Inc. will post 9.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Chart Industries from $214.00 to $208.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 1st. Morgan Stanley decreased their price target on shares of Chart Industries from $250.00 to $225.00 and set an “overweight” rating for the company in a report on Friday, May 16th. The Goldman Sachs Group set a $180.00 price target on shares of Chart Industries and gave the company a “neutral” rating in a research report on Wednesday, May 28th. TD Cowen dropped their target price on shares of Chart Industries from $210.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, Barclays set a $169.00 price target on shares of Chart Industries and gave the company an “equal weight” rating in a report on Thursday, July 10th. Two equities research 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 data from MarketBeat.com, Chart Industries currently has a consensus rating of “Buy” and an average price target of $199.82.

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.