Forum Financial Management LP Purchases New Shares in Chart Industries, Inc. (NYSE:GTLS)

Forum Financial Management LP purchased a new stake in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,675 shares of the industrial products company's stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GTLS. Bailard Inc. purchased a new stake in shares of Chart Industries in the first quarter worth $231,000. Verdence Capital Advisors LLC increased its stake in shares of Chart Industries by 38.0% in the first quarter. Verdence Capital Advisors LLC now owns 1,934 shares of the industrial products company's stock worth $279,000 after purchasing an additional 533 shares in the last quarter. Dakota Wealth Management purchased a new stake in shares of Chart Industries in the first quarter worth $205,000. Rice Hall James & Associates LLC purchased a new stake in shares of Chart Industries in the first quarter worth $6,637,000. Finally, Securian Asset Management Inc. increased its stake in shares of Chart Industries by 3.2% in the first quarter. Securian Asset Management Inc. now owns 3,253 shares of the industrial products company's stock worth $470,000 after purchasing an additional 100 shares in the last quarter.

Wall Street Analyst Weigh In

GTLS has been the subject of a number of research analyst reports. TD Cowen decreased their price objective on shares of Chart Industries from $210.00 to $205.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Stifel Nicolaus decreased their target price on shares of Chart Industries from $231.00 to $214.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Barclays set a $169.00 target price on shares of Chart Industries and gave the company an "equal weight" rating in a research note on Thursday, July 10th. The Goldman Sachs Group set a $180.00 target price on shares of Chart Industries and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Finally, Morgan Stanley decreased their target price on shares of Chart Industries from $250.00 to $225.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $199.82.

Chart Industries Trading Up 1.1%

GTLS traded up $1.77 during midday trading on Tuesday, hitting $169.06. The company's stock had a trading volume of 203,033 shares, compared to its average volume of 784,175. The company has a current ratio of 1.51, a quick ratio of 1.21 and a debt-to-equity ratio of 1.18. The firm has a market cap of $7.73 billion, a P/E ratio of 34.09, a PEG ratio of 0.67 and a beta of 1.68. The firm has a 50-day moving average price of $159.61 and a two-hundred day moving average price of $165.08. Chart Industries, Inc. has a 52-week low of $101.60 and a 52-week high of $220.03.

Chart Industries (NYSE:GTLS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.84 by $0.02. Chart Industries had a return on equity of 13.93% and a net margin of 5.93%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company posted $1.49 EPS. Chart Industries's revenue for the quarter was up 38.8% on a year-over-year basis. On average, research analysts anticipate that Chart Industries, Inc. will post 9.02 earnings per share for the current year.

Chart Industries Company 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.