Wedge Capital Management L L P NC Buys Shares of 16,316 Chart Industries, Inc. $GTLS

Key Points

• Wedge Capital Management acquired 16,316 shares of Chart Industries, Inc. during the 2nd quarter, valued at approximately $2.7 million.
• Several hedge funds have significantly increased their stakes in Chart Industries, highlighting growing institutional interest in the stock.
• Chart Industries reported an earnings per share of $2.59, which missed the consensus estimate of $2.62, indicating potential concerns over its recent financial performance.

Wedge Capital Management L L P NC bought a new position in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,316 shares of the industrial products company's stock, valued at approximately $2,686,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in Chart Industries by 19.4% during the second quarter. UMB Bank n.a. now owns 641 shares of the industrial products company's stock worth $106,000 after acquiring an additional 104 shares during the last quarter. Viking Fund Management LLC lifted its position in shares of Chart Industries by 9.1% during the 2nd quarter. Viking Fund Management LLC now owns 12,000 shares of the industrial products company's stock worth $1,976,000 after purchasing an additional 1,000 shares during the last quarter. Perpetual Ltd bought a new stake in Chart Industries in the 2nd quarter valued at $107,498,000. Community Trust & Investment Co. increased its holdings in shares of Chart Industries by 1.5% during the second quarter. Community Trust & Investment Co. now owns 79,459 shares of the industrial products company's stock worth $13,083,000 after buying an additional 1,212 shares in the last quarter. Finally, Atticus Wealth Management LLC acquired a new stake in Chart Industries during the 2nd quarter worth $34,000.

Chart Industries Trading Up 0.2%

Shares of GTLS stock traded up $0.36 during trading hours on Monday, hitting $199.85. 644,044 shares of the company were exchanged, compared to its average volume of 1,239,662. The firm has a fifty day moving average of $193.11 and a 200 day moving average of $164.58. 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 1 year low of $104.60 and a 1 year high of $220.03. The firm has a market cap of $8.98 billion, a PE ratio of 37.15, a PEG ratio of 1.15 and a beta of 1.67.

Chart Industries (NYSE:GTLS - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $2.59 earnings per share for the quarter, missing analysts' consensus estimates of $2.62 by ($0.03). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.11 billion. Chart Industries had a return on equity of 13.71% and a net margin of 6.29%. Analysts expect 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 GTLS shares. Johnson Rice downgraded Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 price objective for the company. in a research report on Wednesday, July 30th. The Goldman Sachs Group set a $180.00 price objective on Chart Industries and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Hsbc Global Res raised Chart Industries to a "hold" rating in a research report on Wednesday, July 30th. Lake Street Capital cut Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 price objective for the company. in a research report on Wednesday, July 30th. Finally, Craig Hallum lowered Chart Industries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Four research 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 target price of $202.00.

Chart Industries 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.