Driehaus Capital Management LLC Raises Position in Chart Industries, Inc. $GTLS

Key Points

• Driehaus Capital Management LLC increased its stake in Chart Industries by 77.7%, acquiring an additional 148,703 shares, bringing its total holdings to 340,198 shares valued at approximately $49.1 million.
• In the latest quarterly earnings report, Chart Industries reported $2.59 earnings per share, missing estimates, and had revenue of $1.08 billion, also below expectations.
• Several brokerages have recently downgraded their ratings and price targets for Chart Industries, with the current consensus rating being "Hold" and an average price target of $202.00.

Driehaus Capital Management LLC increased its holdings in Chart Industries, Inc. (NYSE:GTLS - Free Report) by 77.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 340,198 shares of the industrial products company's stock after purchasing an additional 148,703 shares during the quarter. Driehaus Capital Management LLC owned 0.74% of Chart Industries worth $49,111,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. First Manhattan CO. LLC. raised its stake in Chart Industries by 3.1% in the 4th quarter. First Manhattan CO. LLC. now owns 1,779 shares of the industrial products company's stock valued at $340,000 after purchasing an additional 54 shares during the last quarter. Xponance Inc. grew its position in shares of Chart Industries by 1.4% in the first quarter. Xponance Inc. now owns 6,116 shares of the industrial products company's stock valued at $883,000 after purchasing an additional 85 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Chart Industries by 1.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 6,781 shares of the industrial products company's stock valued at $979,000 after purchasing an additional 98 shares during the last quarter. Global X Japan Co. Ltd. lifted 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. Finally, State of Michigan Retirement System increased its stake in shares of Chart Industries by 1.0% in the 1st quarter. State of Michigan Retirement System now owns 10,100 shares of the industrial products company's stock worth $1,458,000 after acquiring an additional 100 shares during the last quarter.

Chart Industries Stock Performance

NYSE:GTLS traded down $0.23 during mid-day trading on Tuesday, reaching $199.14. 1,492,692 shares of the stock were exchanged, compared to its average volume of 1,366,504. The company has a quick ratio of 1.27, a current ratio of 1.55 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $8.95 billion, a P/E ratio of 37.01, a P/E/G ratio of 1.15 and a beta of 1.67. The company has a 50 day simple moving average of $182.66 and a 200-day simple moving average of $162.34. Chart Industries, Inc. has a 1 year low of $101.60 and a 1 year high of $220.03.

Chart Industries (NYSE:GTLS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $2.59 EPS for the quarter, missing the consensus estimate of $2.62 by ($0.03). Chart Industries had a net margin of 6.29% and a return on equity of 13.71%. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.11 billion. Analysts anticipate that Chart Industries, Inc. will post 9.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Johnson Rice cut shares of 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. Lake Street Capital downgraded shares of Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 price target for the company. in a report on Wednesday, July 30th. The Goldman Sachs Group set a $180.00 target price on Chart Industries and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. UBS Group reaffirmed a "neutral" rating and issued a $210.00 price target (down previously from $225.00) on shares of Chart Industries in a research note on Wednesday, July 30th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Chart Industries in a research report on Wednesday, July 30th. Five analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $202.00.

About Chart Industries

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.