Verdence Capital Advisors Reduces Stake in Chart Industries by 31%

Verdence Capital Advisors LLC has decreased its holdings in Chart Industries, Inc. (NYSE: GTLS) by 31.4% during the second quarter of the fiscal year. According to a recent filing with the Securities and Exchange Commission, the firm now owns 1,326 shares of the industrial products company after selling 608 shares in the quarter, valuing its stake at approximately $218,000.

Other institutional investors have also adjusted their positions in Chart Industries. GAMMA Investing LLC significantly increased its stake by 118.6% during the first quarter, bringing its total to 1,270 shares valued at $183,000. Similarly, Wealth Enhancement Advisory Services LLC raised its holdings by an astonishing 1,201.7%, now owning 39,650 shares worth $5.72 million after acquiring an additional 36,604 shares.

Analyst Ratings and Market Performance

The State of Alaska Department of Revenue also increased its position by 2.7%, owning 4,928 shares valued at $711,000. Additionally, Davidson Capital Management Inc. established a new position worth $2.34 million in Chart Industries, while Global X Japan Co. Ltd. boosted its holdings by 142.9%, acquiring 170 shares valued at $25,000.

Recent reports from various research firms have influenced market sentiment regarding Chart Industries. Weiss Ratings reaffirmed a “hold (C+)” rating on October 8th, while Citigroup downgraded its rating from “buy” to “hold” on September 5th. TD Cowen similarly reduced its rating from “strong-buy” to “hold” on July 31st. In contrast, Raymond James Financial maintained a “market perform” rating, and UBS Group reaffirmed a “neutral” rating with a revised price target of $210, down from $225.

Overall, three analysts have issued a Buy rating for the stock, while fourteen have categorized it as a Hold. According to data from MarketBeat, Chart Industries currently holds a consensus rating of “Hold” with an average target price of $204.85.

Current Stock Performance

As of the latest trading session, shares of Chart Industries opened at $200.11. The company boasts a market capitalization of $8.99 billion, a price-to-earnings ratio of 37.20, and a price-to-earnings-growth ratio of 1.16. Over the past year, the stock has experienced a low of $104.60 and a high of $220.03. Its fifty-day moving average stands at $199.34, while the two-hundred day moving average is $170.45.

Chart Industries reported its latest earnings results on July 29th, revealing earnings per share of $2.59, which fell short of analysts’ expectations of $2.62 by $0.03. The company reported revenue of $1.08 billion, compared to forecasts of $1.11 billion. Chart Industries recorded a return on equity of 13.71% and a net margin of 6.29%. Analysts expect the company to post earnings per share of $9.02 for the current year.

Chart Industries specializes in designing, engineering, and manufacturing process technologies and equipment for gas and liquid molecules, operating in four primary segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.

For further updates on institutional investments and stock performance, investors may refer to HoldingsChannel.com for the latest 13F filings and insider trades concerning Chart Industries, Inc. (NYSE: GTLS).