Fisher Asset Management LLC Lowers Holdings in Chart Industries, Inc. $GTLS

Key Points

• Fisher Asset Management cut its stake in Chart Industries by 98.2% in Q3, selling 500,950 shares and leaving 9,338 shares worth $1.869 million.
• Chart Industries reported an earnings miss—$2.51 EPS vs. $3.48 expected and revenue of $1.08B vs. $1.23B—resulting in a slim net margin (0.95%); the stock trades near $207 with an outsized P/E of 797.07.
• Other institutions shifted positions notably: Alpine Associates raised its holding 590.3% to 509,110 shares (~$101.9M) and Norges Bank initiated a ~$92.9M stake, while analysts' consensus remains a "Hold" with a $204.10 target.

Fisher Asset Management LLC reduced its stake in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) by 98.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,338 shares of the industrial products company's stock after selling 500,950 shares during the period. Fisher Asset Management LLC's holdings in Chart Industries were worth $1,869,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GTLS. Geode Capital Management LLC lifted its holdings in shares of Chart Industries by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,085,833 shares of the industrial products company's stock valued at $178,804,000 after buying an additional 65,078 shares during the period. Norges Bank acquired a new stake in Chart Industries during the second quarter worth about $92,901,000. Charles Schwab Investment Management Inc. grew its holdings in Chart Industries by 4.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 558,979 shares of the industrial products company's stock worth $92,036,000 after acquiring an additional 22,556 shares during the period. Alpine Associates Management Inc. raised its position in Chart Industries by 590.3% during the third quarter. Alpine Associates Management Inc. now owns 509,110 shares of the industrial products company's stock valued at $101,898,000 after acquiring an additional 435,359 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Chart Industries by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 327,153 shares of the industrial products company's stock valued at $53,866,000 after acquiring an additional 18,190 shares in the last quarter.

Chart Industries Stock Down 0.0%

GTLS stock opened at $207.23 on Friday. Chart Industries, Inc. has a 52 week low of $104.60 and a 52 week high of $208.24. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 1.06. The firm has a 50-day simple moving average of $207.06 and a 200-day simple moving average of $203.39. The stock has a market capitalization of $9.92 billion, a P/E ratio of 797.07, a P/E/G ratio of 0.79 and a beta of 1.73.

Chart Industries (NYSE:GTLS - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The industrial products company reported $2.51 earnings per share for the quarter, missing analysts' consensus estimates of $3.48 by ($0.97). Chart Industries had a net margin of 0.95% and a return on equity of 13.55%. The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the prior year, the business posted $2.66 earnings per share. The company's quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts forecast that Chart Industries, Inc. will post 9.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on GTLS. Zacks Research upgraded Chart Industries from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Chart Industries in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Chart Industries currently has a consensus rating of "Hold" and a consensus target price of $204.10.

Chart Industries 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.