BlackRock Fund Advisors recently announced the acquisition of new stake in Chart Industries Inc (NYSE:GTLS). The institutional investor has increased its shareholding in the Industrials company by 1.46% to 4.39 million shares with purchase of 63434.0 shares. This fresh investment now brings its stake to 10.28% valued currently at $599.13 million. In addition, The Vanguard Group, Inc. raised its holdings by 5177.0 to 4.02 million shares. And Fidelity Management & Research Co has lifted its position by 8.66% or 0.21 million shares – to 2.68 million shares.
With over 0.48 million Chart Industries Inc (GTLS) shares trading Friday and a closing price of $132.99 on the day, the dollar volume was approximately $63.21 million. The shares have shown a negative half year performance of -17.25% and its price on 01/12/24 gained nearly 0.31%. Currently, there are 42.75M common shares owned by the public and among those 42.41M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for GTLS have a consensus price objective of $194.00. The analysts have set the share’s price value over the next 12 months at a high of $235.00 and a low of $140.00. The average price target is 31.45% above its recent price level and an upside to the estimated low will see the stock gain 5.01% over that period. But an upside of 43.41% will see the stock hit the forecast high price target while median target price for the stock is $198.50.
Insiders at the company have transacted a total of 46 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 40 of these insider trades were purchases, accounting for 38,478 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 8,604 shares.
The top 3 mutual fund holders in Chart Industries Inc are American Funds Growth Fund of Ame, Vanguard Total Stock Market ETF, and Nordea 1 – Global Climate & Envir. American Funds Growth Fund of Ame owns 2.64 million shares of the company’s stock, all valued at over $359.24 million. The company sold 8829.0 shares recently to bring their total holdings to about 6.16% of the shares outstanding. Vanguard Total Stock Market ETF bought 1772.0 shares to see its total holdings expand to 1.34 million shares valued at over $182.55 million and representing 3.13% of the shares outstanding. Nordea 1 – Global Climate & Envir sold 27334.0 shares to bring its total holdings to over 1.33 million shares at a value of $181.43 million. Nordea 1 – Global Climate & Envir now owns shares totaling to 3.11% of the shares outstanding.
Shares of Chart Industries Inc (NYSE: GTLS) opened at $136.04, up $3.46 from a prior closing price of $132.58. However, the script later moved the day high at 138.65, up 0.31%. The company’s stock has a 5-day price change of -0.11% and -17.05% over the past three months. GTLS shares are trading -2.45% year to date (YTD), with the 12-month market performance up to 4.37% higher. It has a 12-month low price of $101.44 and touched a high of $184.65 over the same period. GTLS has an average intraday trading volume of 689.16K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.01%, 4.19%, and -6.91% respectively.
Institutional ownership of Chart Industries Inc (NYSE: GTLS) shares accounts for 119.50% of the company’s 42.75M shares outstanding. Mutual fund holders own 43.04%, while other institutional holders and individual stakeholders account for 76.64% and 1.87% respectively.
It has a market capitalization of $5.69B and a beta (3y monthly) value of 1.68. The earnings-per-share (ttm) stands at -$1.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.02% over the week and 3.82% over the month.
Analysts forecast that Chart Industries Inc (GTLS) will achieve an EPS of $2.11 for the current quarter, $2.12 for the next quarter and $11.24 for 2024. The lowest estimate earnings-per-share for the quarter is $1.69 while analysts give the company a high EPS estimate of $2.33. Comparatively, EPS for the current quarter was $1.6 a year ago. Earnings per share for the fiscal year are expected to increase by 30.03%, and 86.27% over the next financial year. EPS should grow at an annualized rate of 30.80% over the next five years, compared to -9.56% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Chart Industries Inc (GTLS) as a “Strong Buy” at a consensus score of 1.63. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 5 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GTLS, a number of firms have released research notes about the stock. Raymond James stated their Strong Buy rating for the stock in a research note on January 04, 2024, with the firm’s price target at $190.
