Bourgeon Capital Management LLC Purchases New Position in Chart Industries, Inc. $GTLS

Key Points

• Bourgeon Capital Management LLC acquired a new stake in Chart Industries, Inc. by purchasing 22,547 shares worth approximately $3.7 million during the 2nd quarter.
• Chart Industries reported Q2 earnings of $2.59 per share, missing the consensus estimate of $2.62, along with revenues of $1.08 billion compared to estimated revenues of $1.11 billion.
• Analysts' ratings on Chart Industries have shifted, with Barclays, Citigroup, and others downgrading their ratings, leading to an average rating of "Hold" and a consensus target price of $202.00.

Bourgeon Capital Management LLC purchased a new stake in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 22,547 shares of the industrial products company's stock, valued at approximately $3,712,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its holdings in shares of Chart Industries by 6.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 43,325 shares of the industrial products company's stock valued at $7,134,000 after purchasing an additional 2,508 shares during the last quarter. Enclave Advisors LLC bought a new stake in shares of Chart Industries during the 2nd quarter valued at approximately $205,000. First American Bank grew its holdings in shares of Chart Industries by 2.0% during the 2nd quarter. First American Bank now owns 9,419 shares of the industrial products company's stock valued at $1,551,000 after purchasing an additional 187 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Chart Industries by 2.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,048 shares of the industrial products company's stock valued at $831,000 after purchasing an additional 120 shares during the last quarter. Finally, Register Financial Advisors LLC grew its holdings in shares of Chart Industries by 110.7% during the 2nd quarter. Register Financial Advisors LLC now owns 18,461 shares of the industrial products company's stock valued at $3,040,000 after purchasing an additional 9,700 shares during the last quarter.

Chart Industries Stock Down 0.2%

Shares of NYSE GTLS opened at $199.93 on Tuesday. The company has a market capitalization of $8.99 billion, a P/E ratio of 37.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.67. Chart Industries, Inc. has a 52-week low of $104.60 and a 52-week high of $220.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.27 and a current ratio of 1.55. The company's 50 day moving average price is $196.21 and its 200-day moving average price is $166.48.

Chart Industries (NYSE:GTLS - Get Free Report) last issued its quarterly 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). 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%. Equities analysts forecast that Chart Industries, Inc. will post 9.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GTLS has been the topic of a number of research reports. Barclays reduced their target price on shares of Chart Industries from $171.00 to $169.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Citigroup lowered shares of Chart Industries from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Seaport Res Ptn lowered shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Johnson Rice 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. Finally, TD Cowen lowered shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Chart Industries currently has an average rating of "Hold" and a consensus target price of $202.00.

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.

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