First Trust Advisors LP Buys New Position in Chart Industries, Inc. (GTLS)
First Trust Advisors LP bought a new stake in shares of Chart Industries, Inc. (NASDAQ:GTLS) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,444 shares of the industrial products company’s stock, valued at approximately $397,000.
Several other institutional investors have also recently added to or reduced their stakes in GTLS. SG Americas Securities LLC bought a new position in shares of Chart Industries during the first quarter worth about $193,000. Summit Trail Advisors LLC grew its position in shares of Chart Industries by 3,018.9% during the first quarter. Summit Trail Advisors LLC now owns 196,582 shares of the industrial products company’s stock worth $197,000 after acquiring an additional 190,279 shares during the last quarter. First Mercantile Trust Co. bought a new position in shares of Chart Industries during the second quarter worth about $204,000. Wesbanco Bank Inc. bought a new position in shares of Chart Industries during the first quarter worth about $207,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Chart Industries during the first quarter worth about $333,000. Institutional investors and hedge funds own 99.06% of the company’s stock.
Several equities analysts have recently commented on the stock. BidaskClub upgraded shares of Chart Industries from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Northcoast Research reaffirmed a “buy” rating and issued a $91.00 price objective on shares of Chart Industries in a report on Friday, July 20th. Lake Street Capital upped their price objective on shares of Chart Industries from $71.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, June 8th. Finally, Zacks Investment Research raised shares of Chart Industries from a “hold” rating to a “strong-buy” rating and set a $75.00 price objective for the company in a report on Thursday, June 21st. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $70.67.
Chart Industries (NASDAQ:GTLS) last posted its quarterly earnings data on Thursday, July 19th. The industrial products company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.10. The business had revenue of $319.90 million during the quarter, compared to the consensus estimate of $299.54 million. Chart Industries had a net margin of 4.04% and a return on equity of 6.45%. The company’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 earnings per share. analysts anticipate that Chart Industries, Inc. will post 2.03 EPS for the current fiscal year.
Chart Industries Profile
Chart Industries, Inc manufactures and sells engineered equipment, packaged solutions, and value-add services for the industrial gas, energy, and biomedical industries worldwide. It operates in three segments: Energy & Chemicals (E&C), Distribution & Storage (D&S), and BioMedical. The E&C segment primarily provides brazed aluminum heat exchangers, Core-in-Kettle heat exchangers, air cooled heat exchangers, cold boxes, and process systems, as well as axial cooling fans for power, heating, ventilation, air conditioning, and refining end user applications.
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