Engaged Capital LLC Purchases 144,200 Shares of Chart Industries, Inc. $GTLS

Key Points

• Engaged Capital LLC has increased its stake in Chart Industries, Inc. by 64.1% in the first quarter, now owning approximately 368,996 shares, making it the third largest position in their portfolio.
• Chart Industries recently reported earnings of $2.59 per share for the previous quarter, missing estimates by $0.03, with total revenue at $1.08 billion compared to the expected $1.11 billion.
• Research analysts have given Chart Industries a consensus rating of "Hold" with an average target price of $202.00, while some firms have recently adjusted their price targets downwards.

Engaged Capital LLC lifted its stake in Chart Industries, Inc. (NYSE:GTLS - Free Report) by 64.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 368,996 shares of the industrial products company's stock after purchasing an additional 144,200 shares during the period. Chart Industries makes up 13.6% of Engaged Capital LLC's investment portfolio, making the stock its 3rd largest holding. Engaged Capital LLC owned 0.81% of Chart Industries worth $53,268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Manhattan CO. LLC. grew its holdings in shares of Chart Industries by 3.1% during the fourth quarter. First Manhattan CO. LLC. now owns 1,779 shares of the industrial products company's stock worth $340,000 after buying an additional 54 shares in the last quarter. Xponance Inc. grew its holdings in shares of Chart Industries by 1.4% during the first quarter. Xponance Inc. now owns 6,116 shares of the industrial products company's stock worth $883,000 after buying an additional 85 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Chart Industries by 1.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 6,781 shares of the industrial products company's stock worth $979,000 after buying an additional 98 shares in the last quarter. Global X Japan Co. Ltd. grew its holdings in shares of 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 grew its holdings in shares of Chart Industries by 1.0% during the first quarter. State of Michigan Retirement System now owns 10,100 shares of the industrial products company's stock worth $1,458,000 after buying an additional 100 shares in the last quarter.

Chart Industries Trading Up 0.1%

GTLS traded up $0.18 during trading on Monday, hitting $199.63. 1,314,138 shares of the company's stock were exchanged, compared to its average volume of 1,368,629. The company has a current ratio of 1.55, a quick ratio of 1.27 and a debt-to-equity ratio of 1.04. Chart Industries, Inc. has a 1 year low of $101.60 and a 1 year high of $220.03. The stock has a 50 day moving average price of $186.00 and a 200 day moving average price of $162.46. The firm has a market cap of $8.97 billion, a P/E ratio of 37.11, a price-to-earnings-growth ratio of 1.15 and a beta of 1.67.

Chart Industries (NYSE:GTLS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, analysts expect that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GTLS shares. Seaport Res Ptn downgraded shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Craig Hallum downgraded shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. The Goldman Sachs Group set a $180.00 target price on shares of Chart Industries and gave the company a "neutral" rating in a report on Wednesday, May 28th. Barclays lowered their target price on shares of Chart Industries from $171.00 to $169.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Finally, UBS Group restated a "neutral" rating and issued a $210.00 target price (down from $225.00) on shares of Chart Industries in a report on Wednesday, July 30th. Four analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target 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.