Chart Industries, Inc. $GTLS Shares Bought by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its stake in Chart Industries by 12.6% in the first quarter, buying an additional 18,606 shares and bringing its total holding to 166,192 shares worth about $34.36 million.
• Other institutional investors also boosted their positions, including Commonwealth of Pennsylvania Public School Empls Retrmt SYS, Fifth Third Bancorp, and Credit Industriel ET Commercial, signaling continued interest in GTLS.
• Wall Street sentiment remains cautious: analysts currently have an average “Reduce” rating on Chart Industries, with a consensus target price of $210, while the stock recently traded near $209.90, close to its 52-week high.

Principal Financial Group Inc. grew its position in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,192 shares of the industrial products company's stock after purchasing an additional 18,606 shares during the quarter. Principal Financial Group Inc. owned approximately 0.35% of Chart Industries worth $34,360,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GTLS. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Chart Industries by 77.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,263 shares of the industrial products company's stock valued at $9,565,000 after buying an additional 20,204 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Chart Industries by 1,390.6% during the 1st quarter. Fifth Third Bancorp now owns 10,837 shares of the industrial products company's stock valued at $2,240,000 after acquiring an additional 10,110 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Chart Industries by 3.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 9,178 shares of the industrial products company's stock valued at $1,898,000 after acquiring an additional 300 shares during the period. R Squared Ltd purchased a new position in shares of Chart Industries in the 1st quarter valued at about $803,000. Finally, Credit Industriel ET Commercial increased its stake in shares of Chart Industries by 298.6% in the 1st quarter. Credit Industriel ET Commercial now owns 42,348 shares of the industrial products company's stock valued at $8,755,000 after purchasing an additional 31,723 shares in the last quarter.

Wall Street Analysts Forecast Growth

GTLS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Chart Industries from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 20th. Zacks Research cut Chart Industries from a "hold" rating to a "strong sell" rating in a research report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Chart Industries in a research note on Wednesday, June 24th. Ten equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $210.00.

Chart Industries Price Performance

GTLS stock opened at $209.90 on Friday. The stock has a market capitalization of $10.05 billion, a P/E ratio of -201.82, a P/E/G ratio of 1.24 and a beta of 1.53. The firm has a 50-day simple moving average of $208.13 and a 200-day simple moving average of $207.53. The company has a quick ratio of 1.21, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. Chart Industries, Inc. has a 52 week low of $163.23 and a 52 week high of $209.96.

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.

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