GW&K Investment Management LLC Sells 440,303 Shares of Chart Industries, Inc. $GTLS

Key Points

• GW&K Investment Management LLC reduced its stake in Chart Industries by 99.7%, selling 440,303 shares during the third quarter and leaving just 1,285 shares valued at $257,000.
• Chart Industries missed quarterly estimates, reporting $2.51 EPS versus a $3.48 consensus and $1.08B in revenue versus $1.23B expected, with revenue down 2.5% year-over-year.
• Institutional ownership is mixed—Bank of New York Mellon raised its stake to 327,153 shares—while the stock trades near a 12‑month high (~$207) with a $9.92B market cap, an unusually high P/E (~797), and an analyst consensus of Hold (target $204.10).

GW&K Investment Management LLC lowered its holdings in Chart Industries, Inc. (NYSE:GTLS - Free Report) by 99.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,285 shares of the industrial products company's stock after selling 440,303 shares during the quarter. GW&K Investment Management LLC's holdings in Chart Industries were worth $257,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in shares of Chart Industries by 39.0% in the first quarter. AQR Capital Management LLC now owns 26,089 shares of the industrial products company's stock valued at $3,694,000 after acquiring an additional 7,314 shares during the period. Envestnet Asset Management Inc. increased its position in Chart Industries by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 58,916 shares of the industrial products company's stock worth $9,701,000 after acquiring an additional 1,299 shares during the period. Atria Investments Inc increased its position in Chart Industries by 24.1% during the second quarter. Atria Investments Inc now owns 4,302 shares of the industrial products company's stock worth $708,000 after acquiring an additional 835 shares during the period. Bank of New York Mellon Corp raised its stake in Chart Industries by 5.9% during the 2nd 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 purchasing an additional 18,190 shares during the last quarter. Finally, Savant Capital LLC acquired a new position in Chart Industries during the 2nd quarter valued at $579,000.

Chart Industries Stock Down 0.0%

Shares of GTLS opened at $207.23 on Friday. 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 company has a 50-day moving average price of $207.06 and a two-hundred day moving average price of $203.43. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 797.07, a P/E/G ratio of 0.79 and a beta of 1.73. Chart Industries, Inc. has a 12 month low of $104.60 and a 12 month high of $208.24.

Chart Industries (NYSE:GTLS - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The industrial products company reported $2.51 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company posted $2.66 earnings per share. The company's revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts predict that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GTLS has been the topic of several research analyst reports. Weiss Ratings restated a "sell (d+)" rating on shares of Chart Industries in a research report on Monday, December 29th. Zacks Research raised shares of Chart Industries from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Chart Industries presently has an average rating of "Hold" and a consensus target price of $204.10.

Chart Industries Company 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.

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