Harvey Capital Management Inc. Reduces Stake in Chart Industries, Inc. $GTLS

Harvey Capital Management Inc. lessened its stake in shares of Chart Industries, Inc. (NYSE:GTLS) by 94.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,550 shares of the industrial products company’s stock after selling 27,242 shares during the quarter. Harvey Capital Management Inc.’s holdings in Chart Industries were worth $310,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP boosted its position in shares of Chart Industries by 74.5% in the second quarter. Allworth Financial LP now owns 164 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 70 shares during the period. Bessemer Group Inc. lifted its stake in Chart Industries by 93.0% in the 2nd quarter. Bessemer Group Inc. now owns 193 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 93 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Chart Industries by 44.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 323 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 100 shares during the period. Trust Co. of Toledo NA OH purchased a new position in shares of Chart Industries during the 2nd quarter valued at $54,000. Finally, Mather Group LLC. bought a new position in shares of Chart Industries in the third quarter worth $93,000.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GTLS. JPMorgan Chase & Co. lifted their price objective on Chart Industries from $194.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Chart Industries in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $206.00.

Chart Industries Stock Performance

NYSE:GTLS opened at $207.32 on Monday. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 252.83, a PEG ratio of 0.79 and a beta of 1.74. The business has a 50 day moving average of $205.66 and a 200 day moving average of $198.99. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.40 and a quick ratio of 1.15. Chart Industries, Inc. has a 1-year low of $104.60 and a 1-year high of $219.51.

Chart Industries (NYSE:GTLS) last issued its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.24). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.19 billion. Chart Industries had a net margin of 1.55% and a return on equity of 14.17%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 earnings per share. On average, sell-side analysts predict that Chart Industries, Inc. will post 9.02 earnings per share for the current fiscal year.

Chart Industries Company Profile

Chart Industries, Inc (NYSE: GTLS) is a leading global manufacturer of engineered equipment for the storage, distribution and end-use of hydrocarbon and industrial gases. The company specializes in cryogenic systems and components, serving key markets such as energy, chemical processing, industrial gas, food and beverage, and medical gases. Chart’s product portfolio includes large-scale cryogenic storage tanks, vaporizers, heat exchangers and pump systems designed to maintain gases in liquid and gaseous states under extreme conditions.

Founded in 1992 and headquartered in Ball Ground, Georgia, Chart Industries has evolved through targeted acquisitions and organic growth to expand its technological capabilities and geographic reach.