DAVENPORT & Co LLC Reduces Position in Chart Industries, Inc. $GTLS

DAVENPORT & Co LLC trimmed its position in Chart Industries, Inc. (NYSE:GTLS) by 66.1% during the third quarter, Holdings Channel.com reports. The firm owned 6,660 shares of the industrial products company’s stock after selling 12,960 shares during the period. DAVENPORT & Co LLC’s holdings in Chart Industries were worth $1,333,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GTLS. Perpetual Ltd purchased a new position in Chart Industries in the second quarter valued at $107,498,000. Norges Bank acquired a new position in shares of Chart Industries during the 2nd quarter worth about $92,901,000. Gates Capital Management Inc. increased its holdings in shares of Chart Industries by 61.5% in the 1st quarter. Gates Capital Management Inc. now owns 776,636 shares of the industrial products company’s stock valued at $112,115,000 after acquiring an additional 295,738 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of Chart Industries by 269.1% during the 2nd quarter. Loomis Sayles & Co. L P now owns 313,386 shares of the industrial products company’s stock worth $51,599,000 after acquiring an additional 228,479 shares in the last quarter. Finally, Third Point LLC purchased a new stake in Chart Industries during the second quarter worth approximately $35,400,000.

Chart Industries Price Performance

GTLS stock opened at $205.92 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $9.26 billion, a P/E ratio of 251.13, a PEG ratio of 1.30 and a beta of 1.76. The business has a 50 day simple moving average of $203.17 and a 200-day simple moving average of $191.85. Chart Industries, Inc. has a twelve month low of $104.60 and a twelve month high of $220.03.

Chart Industries (NYSE:GTLS) last released 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 business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company earned $2.18 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Chart Industries, Inc. will post 9.02 EPS for the current year.

Analyst Upgrades and Downgrades

GTLS has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Chart Industries in a research note on Monday, December 22nd. Citigroup downgraded shares of Chart Industries from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Chart Industries from $194.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Chart Industries presently has an average rating of “Hold” and an average price target of $206.00.

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.