TimesSquare Capital Management LLC Trims Stake in Chart Industries, Inc. $GTLS

TimesSquare Capital Management LLC lessened its stake in shares of Chart Industries, Inc. (NYSE:GTLS) by 18.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 109,771 shares of the industrial products company’s stock after selling 24,235 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Chart Industries were worth $21,971,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Chart Industries by 6.4% during the second quarter. Geode Capital Management LLC now owns 1,085,833 shares of the industrial products company’s stock valued at $178,804,000 after acquiring an additional 65,078 shares during the last quarter. Norges Bank purchased a new position in Chart Industries in the 2nd quarter valued at about $92,901,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Chart Industries by 4.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 558,979 shares of the industrial products company’s stock worth $92,036,000 after purchasing an additional 22,556 shares during the last quarter. Alpine Associates Management Inc. grew its holdings in shares of Chart Industries by 590.3% during the third quarter. Alpine Associates Management Inc. now owns 509,110 shares of the industrial products company’s stock worth $101,898,000 after buying an additional 435,359 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Chart Industries by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 327,153 shares of the industrial products company’s stock valued at $53,866,000 after buying an additional 18,190 shares during the last quarter.

Chart Industries Stock Up 0.1%

Shares of NYSE GTLS opened at $206.86 on Monday. Chart Industries, Inc. has a 52-week low of $104.60 and a 52-week high of $208.24. The firm has a fifty day moving average of $206.61 and a 200-day moving average of $202.56. The stock has a market capitalization of $9.30 billion, a PE ratio of 252.27, a P/E/G ratio of 0.79 and a beta of 1.75. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 1.08.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GTLS shares. Weiss Ratings restated a “sell (d+)” rating on shares of Chart Industries in a research report on Monday, December 29th. Zacks Research upgraded Chart Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on Chart Industries from $194.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chart Industries presently has an average rating of “Hold” and a consensus target price of $204.10.

Chart Industries Company Profile

Chart Industries, Inc (NYSE: GTLS) is a leading global manufacturer of engineered equipment for the storage, distribution and end-use of hydrocarbon and industrial gases. The company specializes in cryogenic systems and components, serving key markets such as energy, chemical processing, industrial gas, food and beverage, and medical gases. Chart’s product portfolio includes large-scale cryogenic storage tanks, vaporizers, heat exchangers and pump systems designed to maintain gases in liquid and gaseous states under extreme conditions.

Founded in 1992 and headquartered in Ball Ground, Georgia, Chart Industries has evolved through targeted acquisitions and organic growth to expand its technological capabilities and geographic reach.