PNC Financial Services Group Inc. Buys 419 Shares of Chart Industries, Inc. $GTLS

PNC Financial Services Group Inc. boosted its stake in Chart Industries, Inc. (NYSE:GTLS) by 18.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,684 shares of the industrial products company’s stock after purchasing an additional 419 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Chart Industries were worth $442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GTLS. Nordea Investment Management AB increased its stake in shares of Chart Industries by 5.7% in the 2nd quarter. Nordea Investment Management AB now owns 1,906,083 shares of the industrial products company’s stock valued at $317,248,000 after acquiring an additional 102,226 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Chart Industries by 9.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,169,664 shares of the industrial products company’s stock valued at $168,853,000 after purchasing an additional 105,027 shares during the period. King Luther Capital Management Corp increased its stake in Chart Industries by 1.4% in the first quarter. King Luther Capital Management Corp now owns 979,683 shares of the industrial products company’s stock valued at $141,427,000 after purchasing an additional 13,484 shares in the last quarter. Gates Capital Management Inc. raised its holdings in Chart Industries by 61.5% in the first quarter. Gates Capital Management Inc. now owns 776,636 shares of the industrial products company’s stock worth $112,115,000 after purchasing an additional 295,738 shares during the period. Finally, Perpetual Ltd bought a new position in shares of Chart Industries during the second quarter worth $107,498,000.

Analyst Upgrades and Downgrades

GTLS has been the topic of several research analyst reports. Lake Street Capital downgraded Chart Industries from a “strong-buy” rating to a “hold” rating and set a $210.00 price objective on the stock. in a research note on Wednesday, July 30th. UBS Group reaffirmed a “neutral” rating and set a $210.00 price target (down previously from $225.00) on shares of Chart Industries in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Chart Industries in a report on Wednesday, November 19th. JPMorgan Chase & Co. increased their target price on Chart Industries from $194.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Finally, Seaport Res Ptn downgraded shares of Chart Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $205.08.

Chart Industries Stock Up 0.2%

Shares of GTLS stock opened at $203.81 on Tuesday. Chart Industries, Inc. has a 52-week low of $104.60 and a 52-week high of $220.03. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 248.55, a PEG ratio of 1.15 and a beta of 1.78. The firm’s 50-day moving average is $200.67 and its 200-day moving average is $184.18. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.40.

Chart Industries (NYSE:GTLS) last posted its earnings results on Wednesday, October 29th. The industrial products company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.24). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.19 billion. Chart Industries had a return on equity of 14.17% and a net margin of 1.55%.The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.18 EPS. Sell-side analysts predict that Chart Industries, Inc. will post 9.02 EPS for the current year.

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.