Granite Point Capital Management L.P. Decreases Position in Chart Industries, Inc. (GTLS)

Granite Point Capital Management L.P. lowered its stake in Chart Industries, Inc. (NASDAQ:GTLS) by 35.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 45,000 shares of the industrial products company’s stock after selling 25,000 shares during the period. Granite Point Capital Management L.P. owned approximately 0.15% of Chart Industries worth $1,765,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Aperio Group LLC grew its position in shares of Chart Industries by 16.2% during the 2nd quarter. Aperio Group LLC now owns 12,011 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 1,677 shares in the last quarter. Northern Trust Corp grew its position in shares of Chart Industries by 7.7% during the 2nd quarter. Northern Trust Corp now owns 667,334 shares of the industrial products company’s stock worth $23,178,000 after purchasing an additional 47,728 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of Chart Industries by 2.9% during the 3rd quarter. Pzena Investment Management LLC now owns 1,353,367 shares of the industrial products company’s stock worth $53,093,000 after purchasing an additional 37,964 shares in the last quarter. Vivaldi Asset Management LLC acquired a new position in shares of Chart Industries during the 2nd quarter worth approximately $2,858,000. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Chart Industries by 3.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 223,179 shares of the industrial products company’s stock worth $7,752,000 after purchasing an additional 6,892 shares in the last quarter. Institutional investors and hedge funds own 86.75% of the company’s stock.

A number of brokerages have issued reports on GTLS. BidaskClub lowered shares of Chart Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Lake Street Capital upped their price target on shares of Chart Industries from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Seaport Global Securities raised shares of Chart Industries from a “neutral” rating to a “buy” rating and set a $58.00 price target for the company in a report on Friday, October 27th. Zacks Investment Research raised shares of Chart Industries from a “hold” rating to a “strong-buy” rating and set a $50.00 price target for the company in a report on Wednesday, November 1st. Finally, Cowen reaffirmed a “hold” rating and set a $40.00 price target on shares of Chart Industries in a report on Sunday, October 22nd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Chart Industries currently has an average rating of “Buy” and an average target price of $48.14.

Shares of Chart Industries, Inc. (NASDAQ:GTLS) opened at $46.57 on Wednesday. Chart Industries, Inc. has a twelve month low of $32.04 and a twelve month high of $48.78. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.42. The firm has a market cap of $1,464.09, a P/E ratio of 91.50, a PEG ratio of 2.83 and a beta of 1.32.

Chart Industries (NASDAQ:GTLS) last issued its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.07. Chart Industries had a negative net margin of 0.21% and a positive return on equity of 2.25%. The company had revenue of $240.50 million during the quarter, compared to the consensus estimate of $235.96 million. During the same quarter in the prior year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. research analysts forecast that Chart Industries, Inc. will post 0.84 earnings per share for the current year.

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Chart Industries Company Profile

Chart Industries, Inc is a diversified global manufacturer of engineered equipment, packaged solutions, and value-add services used throughout the industrial gas, energy and biomedical industries. The Company operates through three business segments: Energy & Chemicals (E&C), Distribution & Storage (D&S) and BioMedical.

Institutional Ownership by Quarter for Chart Industries (NASDAQ:GTLS)

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