Perpetual Ltd Purchases New Shares in Chart Industries, Inc. $GTLS

Key Points

• Perpetual Ltd acquired a new position in Chart Industries, Inc., purchasing 652,888 shares valued at approximately $107.5 million, making it the firm's 20th largest holding.
• Chart Industries reported EPS of $2.59 for the last quarter, missing the consensus estimate, and had a revenue of $1.08 billion compared to an anticipated $1.11 billion.
• Recent analyst ratings for Chart Industries have shifted, with several firms downgrading their recommendations to "hold" and adjusting price targets, reflecting a cautious sentiment among analysts.

Perpetual Ltd purchased a new stake in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 652,888 shares of the industrial products company's stock, valued at approximately $107,498,000. Chart Industries makes up approximately 1.3% of Perpetual Ltd's portfolio, making the stock its 20th biggest position. Perpetual Ltd owned about 1.43% of Chart Industries as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in Chart Industries in the 1st quarter worth about $25,000. Global X Japan Co. Ltd. increased its holdings in Chart Industries by 142.9% in the 1st 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. Brooklyn Investment Group increased its holdings in Chart Industries by 19,900.0% in the 1st quarter. Brooklyn Investment Group now owns 200 shares of the industrial products company's stock worth $29,000 after buying an additional 199 shares in the last quarter. SVB Wealth LLC bought a new stake in Chart Industries in the 1st quarter worth about $30,000. Finally, Atticus Wealth Management LLC bought a new stake in Chart Industries in the 2nd quarter worth about $34,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GTLS shares. BTIG Research downgraded Chart Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. TD Cowen downgraded Chart Industries from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Seaport Res Ptn downgraded Chart Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Lake Street Capital downgraded Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 price objective for the company. in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group set a $180.00 price objective on Chart Industries and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Four equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, Chart Industries currently has a consensus rating of "Hold" and an average price target of $202.00.

Chart Industries Price Performance

Shares of GTLS traded up $0.36 during mid-day trading on Monday, hitting $199.85. 644,039 shares of the stock were exchanged, compared to its average volume of 1,351,568. The company has a market cap of $8.98 billion, a PE ratio of 37.15, a price-to-earnings-growth ratio of 1.15 and a beta of 1.67. Chart Industries, Inc. has a 52-week low of $104.60 and a 52-week high of $220.03. The firm has a 50-day moving average of $192.44 and a two-hundred day moving average of $164.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.27 and a current ratio of 1.55.

Chart Industries (NYSE:GTLS - Get Free Report) last issued 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). The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.11 billion. Chart Industries had a return on equity of 13.71% and a net margin of 6.29%. On average, equities analysts predict that Chart Industries, Inc. will post 9.02 earnings per share for the current year.

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.