Harvey Capital Management Inc. Invests $5.11 Million in Chart Industries, Inc. (NYSE:GTLS)

Harvey Capital Management Inc. bought a new position in shares of Chart Industries, Inc. (NYSE:GTLS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 41,142 shares of the industrial products company’s stock, valued at approximately $5,107,000. Chart Industries accounts for about 1.3% of Harvey Capital Management Inc.’s portfolio, making the stock its 25th largest position. Harvey Capital Management Inc. owned approximately 0.10% of Chart Industries as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Chart Industries by 28.9% during the first 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 in the last quarter. SIR Capital Management L.P. raised its position in 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 purchasing an additional 41,626 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Chart Industries during the first quarter worth about $15,702,000. NBW Capital LLC boosted its holdings in shares of Chart Industries by 28.7% in the 1st quarter. NBW Capital LLC now owns 58,651 shares of the industrial products company’s stock worth $9,661,000 after purchasing an additional 13,062 shares in the last quarter. Finally, Lisanti Capital Growth LLC increased its position in shares of Chart Industries by 99.1% during the 1st quarter. Lisanti Capital Growth LLC now owns 32,230 shares of the industrial products company’s stock valued at $5,309,000 after purchasing an additional 16,040 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GTLS. Wells Fargo & Company dropped their target price on Chart Industries from $151.00 to $146.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Morgan Stanley upgraded shares of Chart Industries from an “equal weight” rating to an “overweight” rating and set a $175.00 price objective for the company in a report on Monday, September 16th. Craig Hallum reduced their target price on shares of Chart Industries from $229.00 to $199.00 and set a “buy” rating on the stock in a report on Monday, August 5th. The Goldman Sachs Group reduced their price target on Chart Industries from $168.00 to $144.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Stifel Nicolaus dropped their price objective on Chart Industries from $199.00 to $198.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Chart Industries currently has an average rating of “Moderate Buy” and an average price target of $178.00.

Insiders Place Their Bets

In other Chart Industries news, Director Linda S. Harty purchased 5,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was acquired at an average price of $48.05 per share, for a total transaction of $240,250.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $240,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Linda S. Harty acquired 1,000 shares of Chart Industries stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $113.50 per share, for a total transaction of $113,500.00. Following the completion of the transaction, the director now directly owns 10,640 shares in the company, valued at approximately $1,207,640. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda S. Harty bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were bought at an average price of $48.05 per share, with a total value of $240,250.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $240,250. The disclosure for this purchase can be found here. Insiders bought a total of 7,152 shares of company stock worth $482,278 over the last three months. 0.95% of the stock is currently owned by company insiders.

Chart Industries Stock Performance

NYSE GTLS traded up $9.28 on Friday, hitting $130.00. 3,290,872 shares of the company traded hands, compared to its average volume of 570,999. The business’s 50 day moving average price is $121.62 and its 200-day moving average price is $137.05. Chart Industries, Inc. has a 52-week low of $101.60 and a 52-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. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 63.41, a P/E/G ratio of 0.56 and a beta of 1.71.

Chart Industries (NYSE:GTLS) last posted its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.38). The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Chart Industries had a net margin of 2.80% and a return on equity of 12.27%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. Equities analysts expect that Chart Industries, Inc. will post 9.94 earnings per share for the current year.

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.