Kingsview Wealth Management LLC Purchases New Stake in Chart Industries, Inc. (NYSE:GTLS)

Posted by on Jun 12th, 2023

Kingsview Wealth Management LLC purchased a new stake in Chart Industries, Inc. (NYSE:GTLS – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,355 shares of the industrial products company’s stock, valued at approximately $271,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its stake in Chart Industries by 3.5% during the first quarter. Mackenzie Financial Corp now owns 2,078 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 70 shares during the last quarter. First Republic Investment Management Inc. increased its stake in Chart Industries by 4.5% during the first quarter. First Republic Investment Management Inc. now owns 1,739 shares of the industrial products company’s stock valued at $299,000 after purchasing an additional 75 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Chart Industries by 0.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,665 shares of the industrial products company’s stock valued at $3,188,000 after purchasing an additional 99 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Chart Industries by 3.3% during the third quarter. Commonwealth Equity Services LLC now owns 3,120 shares of the industrial products company’s stock valued at $575,000 after purchasing an additional 100 shares during the last quarter. Finally, Ronald Blue Trust Inc. increased its stake in Chart Industries by 200.0% during the fourth quarter. Ronald Blue Trust Inc. now owns 159 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 106 shares during the last quarter.

Analyst Ratings Changes

Several research firms have weighed in on GTLS. Wells Fargo & Company lowered their target price on shares of Chart Industries from $144.00 to $140.00 and set an “equal weight” rating for the company in a research note on Friday, April 14th. StockNews.com assumed coverage on shares of Chart Industries in a research report on Thursday, May 18th. They set a “sell” rating for the company. Evercore ISI assumed coverage on shares of Chart Industries in a research report on Tuesday, March 21st. They set an “outperform” rating and a $217.00 price target for the company. CL King assumed coverage on shares of Chart Industries in a research report on Monday, May 8th. They set a “buy” rating and a $165.00 price target for the company. Finally, TheStreet lowered shares of Chart Industries from a “b-” rating to a “c” rating in a research report on Friday, February 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.31.

Chart Industries Price Performance

GTLS traded up $8.41 on Monday, reaching $139.90. The company had a trading volume of 498,165 shares, compared to its average volume of 681,523. The company has a fifty day moving average of $121.86 and a 200-day moving average of $123.54. The company has a market capitalization of $5.98 billion, a P/E ratio of -694.15, a PEG ratio of 0.45 and a beta of 1.46. The company has a current ratio of 1.25, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. Chart Industries, Inc. has a one year low of $101.44 and a one year high of $242.59.

Chart Industries (NYSE:GTLS – Get Rating) last announced its earnings results on Friday, April 28th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $1.05. The firm had revenue of $537.90 million during the quarter, compared to analyst estimates of $495.89 million. Chart Industries had a negative net margin of 0.14% and a positive return on equity of 9.07%. Chart Industries’s revenue was up 51.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. As a group, equities research analysts anticipate that Chart Industries, Inc. will post 6.21 earnings per share for the current year.

Insider Activity

In other Chart Industries news, VP Gerald F. Vinci acquired 300 shares of Chart Industries stock in a transaction dated Tuesday, March 21st. The stock was bought at an average price of $119.28 per share, for a total transaction of $35,784.00. Following the transaction, the vice president now owns 300 shares in the company, valued at approximately $35,784. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Jillian C. Evanko bought 2,375 shares of the firm’s stock in a transaction on Monday, March 20th. The stock was bought at an average cost of $104.29 per share, for a total transaction of $247,688.75. Following the completion of the acquisition, the chief executive officer now directly owns 104,228 shares in the company, valued at approximately $10,869,938.12. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, VP Gerald F. Vinci bought 300 shares of the firm’s stock in a transaction on Tuesday, March 21st. The stock was purchased at an average price of $119.28 per share, with a total value of $35,784.00. Following the completion of the acquisition, the vice president now owns 300 shares of the company’s stock, valued at $35,784. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 7,675 shares of company stock worth $808,523. Corporate insiders own 0.80% of the company’s stock.

Chart Industries Company Profile

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Chart Industries, Inc engages in the manufacturing of engineered equipment for the industrial gas, energy, and biomedical industries. It operates through the following business segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products and Repair, Service & Leasing, and Corporate. The Cryo Tank Solutions segment supplies bulk, microbulk, and mobile equipment used in the storage, distribution, vaporization, and application of industrial gases.

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Institutional Ownership by Quarter for Chart Industries (NYSE:GTLS)

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