Davidson Capital Management Inc. has significantly increased its investment in Chart Industries, Inc. (NYSE: GTLS), raising its stake by **34.5%** during the second quarter of 2023. The investment firm disclosed this information in its latest filing with the Securities and Exchange Commission, revealing ownership of **21,781 shares** after acquiring an additional **5,581 shares** during the period. Chart Industries now represents approximately **0.9%** of Davidson Capital Management’s overall portfolio, making it the firm’s **21st largest holding**, valued at **$3,586,000** at the end of the last reporting period.
Other institutional investors have also adjusted their positions in Chart Industries, demonstrating growing interest in the industrial products sector. For instance, Boston Partners established a new position in the company during the same quarter, valued at approximately **$1,442,000**. Additionally, Allworth Financial LP increased its stake by **74.5%**, bringing its total to **164 shares**, valued at **$27,000** after purchasing **70 additional shares**. ProShare Advisors LLC also raised its holdings by **1.6%**, now owning **11,273 shares** worth **$1,856,000**, following the acquisition of **174 shares**. Meanwhile, Lisanti Capital Growth LLC acquired a new stake valued at about **$2,611,000**, and CSM Advisors LLC increased its holdings by **10.0%**, resulting in ownership of **70,975 shares** valued at **$11,680,000**.
Stock Performance and Analyst Ratings
On Tuesday, shares of Chart Industries opened at **$203.03**, reflecting a **1.2%** increase. Over the past year, the stock has fluctuated between a low of **$104.60** and a high of **$220.03**. Currently, the **50-day moving average** stands at **$199.84**, while the **200-day moving average** is at **$180.16**. The company’s financial metrics indicate a **debt-to-equity ratio** of **1.08**, a **current ratio** of **1.40**, and a **quick ratio** of **1.27**. Chart Industries boasts a market capitalization of **$9.13 billion**, a **price-to-earnings (P/E) ratio** of **247.60**, and a **P/E/G ratio** of **1.15**, with a beta of **1.78**, indicating higher volatility compared to the market.
Recent analyses from brokerage firms have led to several adjustments in ratings for Chart Industries. On **July 30, 2023**, HSBC Global Research upgraded the stock to a “hold” rating. Conversely, Seaport Research Partners downgraded it from a “strong-buy” to a “hold” rating on the same date. Lake Street Capital also reduced its rating, setting a price target of **$210.00**, while TD Cowen and Cowen both adjusted their ratings downward from “strong-buy” and “buy” to “hold.” Currently, three analysts have assigned a “buy” rating, **fourteen** have a “hold” rating, and one has issued a “sell” rating. Data from MarketBeat indicates that Chart Industries has a consensus rating of “hold” and an average target price of **$205.08**.
Company Overview
Chart Industries, Inc. specializes in the design, engineering, and manufacturing of process technologies and equipment for both gas and liquid molecules, operating both domestically and internationally. The company’s operations are divided into four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing. This diverse portfolio positions Chart Industries well within the industrial sector, addressing a range of customer needs across various markets.
For further insights on institutional holdings and investment strategies involving Chart Industries, interested parties may explore resources such as HoldingsChannel.com, which provides up-to-date information on hedge fund activities and recent 13F filings.
