Kornitzer Capital Management Inc. KS Lowers Stake in Chart Industries, Inc. $GTLS

Kornitzer Capital Management Inc. KS reduced its position in Chart Industries, Inc. (NYSE:GTLS) by 47.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,644 shares of the industrial products company’s stock after selling 31,215 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Chart Industries were worth $6,934,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Allworth Financial LP lifted its holdings in Chart Industries by 74.5% during the 2nd quarter. Allworth Financial LP now owns 164 shares of the industrial products company’s stock worth $27,000 after buying an additional 70 shares during the last quarter. Bessemer Group Inc. raised its position in Chart Industries by 93.0% in the second quarter. Bessemer Group Inc. now owns 193 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 93 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Chart Industries by 44.8% in the second quarter. Geneos Wealth Management Inc. now owns 323 shares of the industrial products company’s stock worth $53,000 after buying an additional 100 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in shares of Chart Industries during the second quarter valued at $54,000. Finally, Mather Group LLC. purchased a new stake in shares of Chart Industries in the 3rd quarter valued at approximately $93,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GTLS. JPMorgan Chase & Co. upped their target price on Chart Industries from $194.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Chart Industries in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $206.00.

Chart Industries Price Performance

GTLS stock opened at $207.28 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 1.08. Chart Industries, Inc. has a 1 year low of $104.60 and a 1 year high of $216.44. The stock has a market cap of $9.32 billion, a PE ratio of 252.78, a price-to-earnings-growth ratio of 0.79 and a beta of 1.74. The stock has a 50-day moving average price of $205.80 and a two-hundred day moving average price of $199.53.

Chart Industries (NYSE:GTLS) last issued its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $2.78 EPS for the quarter, missing the consensus estimate of $3.02 by ($0.24). Chart Industries had a net margin of 1.55% and a return on equity of 14.17%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company posted $2.18 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts forecast that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

About Chart Industries

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.