Viking Fund Management LLC Makes New Investment in Chart Industries, Inc. (NYSE:GTLS)

Viking Fund Management LLC acquired a new position in shares of Chart Industries, Inc. (NYSE:GTLS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,000 shares of the industrial products company’s stock, valued at approximately $1,241,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Greenwood Capital Associates LLC lifted its stake in Chart Industries by 21.6% in the fourth quarter. Greenwood Capital Associates LLC now owns 84,962 shares of the industrial products company’s stock valued at $11,583,000 after purchasing an additional 15,078 shares during the last quarter. Perpetual Ltd raised its position in Chart Industries by 24.0% in the 1st quarter. Perpetual Ltd now owns 543,933 shares of the industrial products company’s stock worth $89,597,000 after purchasing an additional 105,236 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Chart Industries by 28.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 118,774 shares of the industrial products company’s stock worth $19,564,000 after purchasing an additional 26,627 shares during the period. SIR Capital Management L.P. raised its stake in shares of Chart Industries by 74.7% during the second quarter. SIR Capital Management L.P. now owns 97,342 shares of the industrial products company’s stock valued at $14,050,000 after acquiring an additional 41,626 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in Chart Industries by 5.1% in the 1st quarter. Retirement Systems of Alabama now owns 114,685 shares of the industrial products company’s stock worth $18,891,000 after buying an additional 5,541 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GTLS. Bank of America raised their price objective on Chart Industries from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Morgan Stanley raised Chart Industries from an “equal weight” rating to an “overweight” rating and set a $175.00 price target on the stock in a report on Monday, September 16th. Craig Hallum decreased their price target on shares of Chart Industries from $229.00 to $199.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Stifel Nicolaus reduced their target price on shares of Chart Industries from $199.00 to $198.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Evercore ISI upgraded Chart Industries to a “strong-buy” rating in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $179.91.

Chart Industries Stock Performance

Shares of Chart Industries stock traded up $2.54 on Friday, reaching $127.28. 679,318 shares of the stock were exchanged, compared to its average volume of 615,584. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 1.28. Chart Industries, Inc. has a 1-year low of $101.60 and a 1-year high of $171.68. The firm has a market capitalization of $5.45 billion, a PE ratio of 127.28, a PEG ratio of 0.40 and a beta of 1.70. The business has a fifty day moving average price of $119.02 and a two-hundred day moving average price of $140.45.

Chart Industries (NYSE:GTLS) last issued its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.57 by ($0.39). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Chart Industries had a net margin of 2.80% and a return on equity of 12.27%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 earnings per share. As a group, research analysts anticipate that Chart Industries, Inc. will post 10.42 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jillian C. Evanko purchased 440 shares of Chart Industries stock in a transaction dated Thursday, September 5th. The stock was bought at an average cost of $114.31 per share, with a total value of $50,296.40. Following the purchase, the chief executive officer now owns 125,448 shares in the company, valued at approximately $14,339,960.88. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jillian C. Evanko purchased 440 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were acquired at an average price of $114.31 per share, for a total transaction of $50,296.40. Following the completion of the acquisition, the chief executive officer now directly owns 125,448 shares of the company’s stock, valued at $14,339,960.88. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul E. Mahoney purchased 500 shares of the stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average price of $106.55 per share, for a total transaction of $53,275.00. Following the acquisition, the director now directly owns 2,107 shares of the company’s stock, valued at $224,500.85. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 7,152 shares of company stock worth $482,278. 0.95% of the stock is currently owned by corporate insiders.

About Chart Industries

Chart Industries, Inc engages in the designing, engineering, and manufacturing of process technologies and equipment for the gas and liquid molecules in the United States and internationally. The company operates in four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.