Principal Financial Group Inc. Increases Stake in Chart Industries, Inc. $GTLS

Principal Financial Group Inc. grew its holdings in shares of Chart Industries, Inc. (NYSE:GTLS) by 12.6% during the 1st quarter, HoldingsChannel reports. The firm owned 166,192 shares of the industrial products company’s stock after buying an additional 18,606 shares during the period. Principal Financial Group Inc.’s holdings in Chart Industries were worth $34,360,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Millennium Management LLC lifted its stake in shares of Chart Industries by 94.9% in the fourth quarter. Millennium Management LLC now owns 1,586,588 shares of the industrial products company’s stock worth $327,202,000 after buying an additional 772,723 shares in the last quarter. FIL Ltd boosted its position in Chart Industries by 7.2% during the fourth quarter. FIL Ltd now owns 1,315,500 shares of the industrial products company’s stock worth $271,296,000 after acquiring an additional 88,000 shares during the last quarter. UBS Group AG grew its stake in Chart Industries by 76.9% during the 4th quarter. UBS Group AG now owns 1,180,965 shares of the industrial products company’s stock valued at $243,550,000 after acquiring an additional 513,195 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Chart Industries by 62.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,155,240 shares of the industrial products company’s stock valued at $238,245,000 after acquiring an additional 442,650 shares in the last quarter. Finally, Norges Bank acquired a new stake in Chart Industries in the 4th quarter valued at about $237,827,000.

Chart Industries Stock Performance

Shares of GTLS stock opened at $209.90 on Friday. The company’s 50-day moving average price is $208.13 and its 200-day moving average price is $207.53. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.15. The stock has a market cap of $10.05 billion, a price-to-earnings ratio of -201.82, a PEG ratio of 1.24 and a beta of 1.53. Chart Industries, Inc. has a twelve month low of $163.23 and a twelve month high of $209.96.

Analyst Upgrades and Downgrades

GTLS has been the topic of a number of research reports. Zacks Research lowered shares of Chart Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (d+)” rating on shares of Chart Industries in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised Chart Industries from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Ten research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $210.00.

About Chart Industries

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.