Harvey Capital Management Inc. Purchases New Position in Chart Industries, Inc. (NYSE:GTLS)

Harvey Capital Management Inc. purchased a new position in Chart Industries, Inc. (NYSE:GTLS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 41,142 shares of the industrial products company’s stock, valued at approximately $5,107,000. Chart Industries makes up 1.3% of Harvey Capital Management Inc.’s portfolio, making the stock its 25th largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GTLS. Allspring Global Investments Holdings LLC purchased a new position in shares of Chart Industries during the 1st quarter worth about $30,000. UMB Bank n.a. lifted its stake in Chart Industries by 418.0% in the third quarter. UMB Bank n.a. now owns 316 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 255 shares during the last quarter. Byrne Asset Management LLC purchased a new position in shares of Chart Industries during the second quarter valued at approximately $40,000. Ecofi Investissements SA bought a new position in shares of Chart Industries during the second quarter valued at approximately $50,000. Finally, Covestor Ltd raised its holdings in shares of Chart Industries by 509.8% in the first quarter. Covestor Ltd now owns 372 shares of the industrial products company’s stock worth $61,000 after buying an additional 311 shares during the period.

Chart Industries Price Performance

GTLS stock traded up $9.28 during mid-day trading on Friday, reaching $130.00. The company’s stock had a trading volume of 3,290,872 shares, compared to its average volume of 570,999. The stock has a market cap of $5.57 billion, a PE ratio of 63.41, a P/E/G ratio of 0.56 and a beta of 1.71. The company’s 50 day moving average is $121.62 and its two-hundred day moving average is $137.05. Chart Industries, Inc. has a fifty-two week low of $101.60 and a fifty-two week high of $171.68. 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 (NYSE:GTLS) last announced its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.38). Chart Industries had a return on equity of 12.27% and a net margin of 2.80%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business posted $1.28 EPS. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. Equities research analysts expect that Chart Industries, Inc. will post 9.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GTLS shares. The Goldman Sachs Group decreased their target price on Chart Industries from $168.00 to $144.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Craig Hallum lowered their price objective on shares of Chart Industries from $229.00 to $199.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Evercore ISI upgraded shares of Chart Industries to a “strong-buy” rating in a research note on Monday, August 5th. Bank of America decreased their price target on shares of Chart Industries from $185.00 to $165.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Morgan Stanley raised Chart Industries from an “equal weight” rating to an “overweight” rating and set a $175.00 price objective on the stock in a research note on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.00.

Insider Activity

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

Chart Industries Company Profile

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.