Norges Bank Acquires New Position in Chart Industries, Inc. (NYSE:GTLS)

Norges Bank bought a new position in shares of Chart Industries, Inc. (NYSE:GTLS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 464,312 shares of the industrial products company’s stock, valued at approximately $88,609,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its holdings in shares of Chart Industries by 129.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 163 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 92 shares during the period. Fairway Wealth LLC acquired a new stake in Chart Industries in the fourth quarter valued at $34,000. Blue Trust Inc. raised its stake in shares of Chart Industries by 56.0% during the 4th quarter. Blue Trust Inc. now owns 181 shares of the industrial products company’s stock worth $35,000 after buying an additional 65 shares during the last quarter. Spire Wealth Management boosted its position in shares of Chart Industries by 183.8% in the 4th quarter. Spire Wealth Management now owns 193 shares of the industrial products company’s stock worth $37,000 after buying an additional 125 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in Chart Industries by 43.4% in the 4th quarter. Lindbrook Capital LLC now owns 228 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 69 shares during the last quarter.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of Chart Industries from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. BTIG Research increased their target price on Chart Industries from $170.00 to $210.00 and gave the company a “buy” rating in a report on Monday, December 16th. TD Cowen raised their price target on Chart Industries from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Wells Fargo & Company reduced their price objective on Chart Industries from $214.00 to $208.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Barclays lifted their price objective on Chart Industries from $145.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $201.83.

Chart Industries Trading Up 3.6 %

GTLS stock opened at $151.44 on Thursday. Chart Industries, Inc. has a 52 week low of $101.60 and a 52 week high of $220.03. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 43.90, a PEG ratio of 0.57 and a beta of 1.87. The company has a quick ratio of 1.00, a current ratio of 1.27 and a debt-to-equity ratio of 1.16. The business has a fifty day simple moving average of $177.40 and a 200-day simple moving average of $169.07.

Chart Industries (NYSE:GTLS) last released its quarterly earnings data on Friday, February 28th. The industrial products company reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $3.20 by ($0.54). Chart Industries had a return on equity of 13.25% and a net margin of 4.30%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned $2.25 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts expect that Chart Industries, Inc. will post 9.02 EPS for the current year.

Insiders Place Their Bets

In related news, Director Linda S. Harty acquired 500 shares of Chart Industries stock in a transaction on Monday, March 10th. The shares were bought at an average price of $140.85 per share, for a total transaction of $70,425.00. Following the completion of the purchase, the director now directly owns 11,684 shares in the company, valued at $1,645,691.40. This trade represents a 4.47 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jillian C. Evanko bought 350 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $150.35 per share, with a total value of $52,622.50. Following the purchase, the chief executive officer now owns 137,666 shares of the company’s stock, valued at approximately $20,698,083.10. This represents a 0.25 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 1,109 shares of company stock worth $160,845 over the last ninety days. 0.95% of the stock is owned by company insiders.

Chart Industries 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.