FORA Capital LLC Buys New Position in Chart Industries, Inc. $GTLS

Key Points

• FORA Capital LLC acquired 2,648 shares of Chart Industries, Inc. (GTLS) valued at approximately $382,000 during the first quarter.
• Various hedge funds have significantly increased their positions in GTLS, with Frontier Capital Management boosting its stake by over 920% in the fourth quarter.
• Analysts have recently downgraded GTLS from "strong-buy" to "hold" ratings, with a consensus target price of $202 despite previous estimates of up to $250.

FORA Capital LLC bought a new position in Chart Industries, Inc. (NYSE:GTLS - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 2,648 shares of the industrial products company's stock, valued at approximately $382,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. CSM Advisors LLC bought a new stake in shares of Chart Industries during the 1st quarter worth approximately $9,307,000. Penn Capital Management Company LLC lifted its stake in shares of Chart Industries by 23.7% during the 1st quarter. Penn Capital Management Company LLC now owns 122,430 shares of the industrial products company's stock worth $17,721,000 after acquiring an additional 23,447 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Chart Industries during the 1st quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Chart Industries by 302.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 23,780 shares of the industrial products company's stock worth $3,433,000 after acquiring an additional 17,872 shares during the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of Chart Industries during the 1st quarter worth approximately $77,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Raymond James Financial reissued a "market perform" rating on shares of Chart Industries in a research note on Wednesday, July 30th. Morgan Stanley decreased their price target on Chart Industries from $250.00 to $225.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Seaport Res Ptn lowered Chart Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Cowen lowered Chart Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, UBS Group reaffirmed a "neutral" rating and set a $210.00 target price (down from $225.00) on shares of Chart Industries in a research report on Wednesday, July 30th. Five research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Chart Industries currently has a consensus rating of "Hold" and an average target price of $202.00.

Chart Industries Stock Down 0.1%

Shares of GTLS traded down $0.21 during trading hours on Wednesday, hitting $198.88. The company had a trading volume of 581,670 shares, compared to its average volume of 1,360,930. The company has a market capitalization 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 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 one year low of $101.60 and a one year high of $220.03. The company's fifty day moving average price is $183.67 and its two-hundred day moving average price is $162.59.

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). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.11 billion. Chart Industries had a return on equity of 13.71% and a net margin of 6.29%. As a group, equities analysts forecast that Chart Industries, Inc. will post 9.02 earnings per share 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.