Parallel Advisors LLC Cuts Holdings in Chart Industries, Inc. $GTLS

Parallel Advisors LLC decreased its holdings in Chart Industries, Inc. (NYSE:GTLS) by 57.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,016 shares of the industrial products company’s stock after selling 1,357 shares during the period. Parallel Advisors LLC’s holdings in Chart Industries were worth $167,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GTLS. Gates Capital Management Inc. lifted its stake in Chart Industries by 61.5% in the first quarter. Gates Capital Management Inc. now owns 776,636 shares of the industrial products company’s stock worth $112,115,000 after purchasing an additional 295,738 shares during the last quarter. Van Berkom & Associates Inc. increased its holdings in Chart Industries by 101.2% during the first quarter. Van Berkom & Associates Inc. now owns 374,722 shares of the industrial products company’s stock valued at $54,095,000 after buying an additional 188,477 shares during the period. GAMMA Investing LLC increased its holdings in Chart Industries by 31,455.4% during the first quarter. GAMMA Investing LLC now owns 183,337 shares of the industrial products company’s stock valued at $26,467,000 after buying an additional 182,756 shares during the period. Driehaus Capital Management LLC increased its holdings in Chart Industries by 77.7% during the first quarter. Driehaus Capital Management LLC now owns 340,198 shares of the industrial products company’s stock valued at $49,111,000 after buying an additional 148,703 shares during the period. Finally, Engaged Capital LLC grew its holdings in Chart Industries by 64.1% in the first quarter. Engaged Capital LLC now owns 368,996 shares of the industrial products company’s stock worth $53,268,000 after purchasing an additional 144,200 shares during the last quarter.

Analysts Set New Price Targets

GTLS has been the subject of several research reports. Barclays lowered their price objective on shares of Chart Industries from $171.00 to $169.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. TD Cowen cut shares of Chart Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. 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 note on Wednesday, May 28th. Citigroup lowered shares of Chart Industries from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Finally, Lake Street Capital lowered shares of Chart Industries from a “strong-buy” rating to a “hold” rating and set a $210.00 target price on the stock. in a report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $202.00.

Chart Industries Stock Up 0.2%

Shares of NYSE GTLS opened at $199.85 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 1.55 and a debt-to-equity ratio of 1.04. Chart Industries, Inc. has a 52 week low of $104.60 and a 52 week high of $220.03. The firm has a 50-day moving average price of $193.11 and a 200 day moving average price of $164.58. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 37.15, a price-to-earnings-growth ratio of 1.15 and a beta of 1.67.

Chart Industries (NYSE:GTLS) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.03). Chart Industries had a return on equity of 13.71% and a net margin of 6.29%.The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.11 billion. Equities research analysts anticipate that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

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.