Vestcor Inc Buys Shares of 35,000 Chart Industries, Inc. $GTLS

Key Points

• Vestcor Inc bought a new position of 35,000 shares of Chart Industries (NYSE:GTLS) in the third quarter, a purchase valued at about $7.005 million that left Vestcor owning roughly 0.08% of the company.
• Several other institutional investors — including Swiss National Bank, WINTON Group, DLD Asset Management, Yakira Capital and Athos Capital — also added to or initiated multi‑million‑dollar stakes in Chart during the quarter.
• Chart missed recent quarterly expectations, reporting $2.51 EPS vs. a $3.48 consensus and $1.08B revenue vs. $1.23B expected (revenue down 2.5% YoY); the stock trades near $207 with a market cap of $9.92B and an unusually high PE ratio of 796.77, while analysts' consensus remains a Hold with an average price target of $204.10.

Vestcor Inc bought a new position in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 35,000 shares of the industrial products company's stock, valued at approximately $7,005,000. Vestcor Inc owned 0.08% of Chart Industries at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GTLS. Swiss National Bank increased its position in shares of Chart Industries by 2.7% in the third quarter. Swiss National Bank now owns 88,100 shares of the industrial products company's stock worth $17,633,000 after purchasing an additional 2,300 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Chart Industries in the 3rd quarter worth $13,839,000. DLD Asset Management LP purchased a new position in shares of Chart Industries in the third quarter worth about $5,231,000. Yakira Capital Management Inc. bought a new stake in Chart Industries in the third quarter valued at approximately $10,843,000. Finally, Athos Capital Ltd bought a new stake in Chart Industries during the 3rd quarter valued at $11,581,000.

Chart Industries Trading Down 0.0%

Shares of NYSE GTLS opened at $207.15 on Tuesday. The firm's 50 day moving average price is $207.08 and its 200-day moving average price is $203.53. The company has a market cap of $9.92 billion, a PE ratio of 796.77, a P/E/G ratio of 0.79 and a beta of 1.73. Chart Industries, Inc. has a 52-week low of $104.60 and a 52-week high of $208.24. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.09 and a current ratio of 1.36.

Chart Industries (NYSE:GTLS - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business earned $2.66 EPS. Chart Industries's revenue was down 2.5% on a year-over-year basis. On average, equities research analysts expect that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Zacks Research raised Chart Industries from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 12th. Weiss Ratings reissued a "sell (d+)" rating on shares of Chart Industries in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Chart Industries currently has a consensus rating of "Hold" and an average price target 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.

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