Norges Bank Takes $88.61 Million 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 the company in its most recent Form 13F filing with the SEC. The institutional investor bought 464,312 shares of the industrial products company’s stock, valued at approximately $88,609,000. Norges Bank owned approximately 1.08% of Chart Industries at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GTLS. Vanguard Group Inc. increased its stake in Chart Industries by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,297,398 shares of the industrial products company’s stock worth $820,115,000 after buying an additional 59,889 shares during the period. Geode Capital Management LLC increased its position in shares of Chart Industries by 2.0% during the third quarter. Geode Capital Management LLC now owns 993,199 shares of the industrial products company’s stock worth $123,318,000 after acquiring an additional 19,534 shares during the period. Principal Financial Group Inc. raised its stake in shares of Chart Industries by 4.2% in the third quarter. Principal Financial Group Inc. now owns 802,907 shares of the industrial products company’s stock valued at $99,673,000 after acquiring an additional 32,442 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Chart Industries by 90.9% in the third quarter. Wellington Management Group LLP now owns 551,482 shares of the industrial products company’s stock valued at $68,461,000 after acquiring an additional 262,592 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Chart Industries by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 518,085 shares of the industrial products company’s stock valued at $98,871,000 after purchasing an additional 16,197 shares during the period.

Chart Industries Trading Up 3.6 %

GTLS opened at $151.44 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.27 and a debt-to-equity ratio of 1.16. Chart Industries, Inc. has a 52 week low of $101.60 and a 52 week high of $220.03. The business’s 50 day moving average is $177.40 and its two-hundred day moving average is $169.07. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 43.90, a price-to-earnings-growth ratio of 0.57 and a beta of 1.87.

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

Insider Activity at Chart Industries

In other news, CEO Jillian C. Evanko acquired 350 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost 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 $20,698,083.10. This represents a 0.25 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Linda S. Harty bought 500 shares of Chart Industries stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $140.85 per share, with a total value of $70,425.00. Following the purchase, the director now directly owns 11,684 shares in the company, valued at approximately $1,645,691.40. This trade represents a 4.47 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 1,109 shares of company stock worth $160,845 in the last quarter. Company insiders own 0.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GTLS shares. TD Cowen increased their price target on Chart Industries from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Barclays lifted their price target on shares of Chart Industries from $145.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group increased their price objective on shares of Chart Industries from $138.00 to $201.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Citigroup lifted their price objective on shares of Chart Industries from $190.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus increased their target price on Chart Industries from $200.00 to $231.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $201.83.

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.