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Joseph Brinkman, Vice President and Chief Financial Officer of Chart Industries Inc. (NYSE:GTLS), has acquired additional shares in the company, according to a recent SEC filing. The company, which InvestingPro data shows has achieved a perfect Piotroski Score of 9, indicating strong financial health, currently maintains a market capitalization of $5.3 billion. On March 14, Brinkman purchased 328 shares of Chart Industries’ common stock at an average price of $149.78 per share, totaling approximately $49,126. This transaction increases his direct ownership to 12,126 shares. Chart Industries, based in Ball (NYSE:BALL) Ground, Georgia, specializes in the manufacturing of equipment used in the energy and industrial gas markets. The company has demonstrated robust growth with a 24% revenue increase in the last twelve months and appears undervalued according to InvestingPro’s Fair Value analysis.Get access to 12 more exclusive ProTips and comprehensive analysis for Chart Industries through the detailed Pro Research Report, available on InvestingPro.
In other recent news, Chart Industries reported its fourth-quarter 2024 earnings, which fell short of expectations. The company posted an earnings per share (EPS) of $2.66, missing the forecast of $3.15, and revenue of $1.11 billion, which was below the expected $1.18 billion. Despite these misses, Chart Industries demonstrated a 17.5% organic sales increase for the full year, reaching $4.16 billion. Meanwhile, Stifel analysts maintained their Buy rating on Chart Industries, citing a strong order backlog and a robust book-to-bill ratio, with a price target set at $231.00.
Additionally, Chart Industries has been selected by Blue Spruce Operating LLC to supply technology for the Dry Piney Helium and Carbon Sequestration Project in Wyoming. This project is expected to produce over 800 million cubic feet of bulk liquid helium annually. The collaboration aims to enhance domestic helium resources and support carbon sequestration efforts. In another development, Chart Industries has received positive feedback from analysts regarding its growth prospects, with Stifel suggesting that the company is outpacing its industrial peers and may achieve significant valuation gains as predictability improves.
Overall, these recent developments highlight Chart Industries’ ongoing efforts to expand its market presence and improve operational efficiency, despite facing challenges in meeting earnings forecasts.
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