Brasada Capital Management LP Cuts Stock Holdings in Chart Industries, Inc. $GTLS

Key Points

• Brasada Capital Management LP reduced its holdings in Chart Industries, Inc. by 16.7%, resulting in ownership of 10,000 shares worth approximately $1.44 million.
• Chart Industries reported earnings per share of $2.59 for the last quarter, slightly missing analyst expectations of $2.62, with a revenue of $1.08 billion against an expected $1.11 billion.
• Several analysts have downgraded Chart Industries, with a majority now holding a "Hold" rating and an average price target of $202 following adjustments in their projections.

Brasada Capital Management LP lessened its holdings in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) by 16.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,000 shares of the industrial products company's stock after selling 2,000 shares during the period. Brasada Capital Management LP's holdings in Chart Industries were worth $1,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global X Japan Co. Ltd. grew its position in Chart Industries by 142.9% during the first quarter. Global X Japan Co. Ltd. now owns 170 shares of the industrial products company's stock worth $25,000 after buying an additional 100 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Chart Industries during the first quarter worth $25,000. Brooklyn Investment Group grew its stake in shares of Chart Industries by 19,900.0% in the first quarter. Brooklyn Investment Group now owns 200 shares of the industrial products company's stock worth $29,000 after purchasing an additional 199 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Chart Industries in the first quarter worth $30,000. Finally, Hughes Financial Services LLC acquired a new position in Chart Industries in the first quarter valued at approximately $44,000.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Chart Industries from $250.00 to $225.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Lake Street Capital 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. UBS Group restated a "neutral" rating and set a $210.00 target price (down previously from $225.00) on shares of Chart Industries in a report on Wednesday, July 30th. Seaport Res Ptn cut Chart Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group set a $180.00 price objective on Chart Industries and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Five equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $202.00.

Chart Industries Trading Down 0.1%

Shares of GTLS traded down $0.17 during midday trading on Wednesday, reaching $198.92. The company had a trading volume of 1,661,076 shares, compared to its average volume of 1,368,268. Chart Industries, Inc. has a 1-year low of $101.60 and a 1-year high of $220.03. The stock has a market cap of $8.94 billion, a PE ratio of 36.97, a price-to-earnings-growth ratio of 1.15 and a beta of 1.67. The firm has a 50 day simple moving average of $183.67 and a 200-day simple moving average of $162.59. 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 (NYSE:GTLS - Get Free Report) last released its quarterly 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). 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 analysts' expectations of $1.11 billion. Research analysts forecast that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

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.