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Chart Industries Inc (GTLS): Pzena Investment Management Lowers Its Stake

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A recent 13G filing with the US SEC showed that Richard S. Pzena‘s Pzena Investment Management holds 1.52 million shares of Chart Industries Inc (NASDAQ:GTLS), which account for 4.98% of the company’s outstanding stock. This indicates a decrease in the fund’s stake, as previously it held 1.68 million shares, according to its last 13F filing for the reporting period of June 30.

Chart Industries is a company that manufactures engineered equipment for a variety of industries such as industrial and biomedical. Year-to-date, the company’s stock is up by 68.6%. In its last financial report for the second quarter of 2016, the company reported earnings per share of $0.68 and revenue of $247.1 million, topping both the estimates for EPS of $0.12 and revenue of $222.9 million.

 

Richard Pzena - Pzena Investment Management

Among hedge funds from our database, 19 investors were bullish on Chart Industries (NASDAQ:GTLS) at the end of the second quarter, compared to 15 smart money managers long the stock, a quarter earlier. Some of the hedge funds that have reported long positions in the company include John Osterweis’ Osterweis Capital Management, which held a position worth around $24.61 million in BOND options, Howard Marks’s Oaktree Capital Management with a position valued at $14.30 million in BOND options, J. Carlo Cannell’s Cannell Capital, Richard Driehaus’s Driehaus Capital, and Chuck Royce’s Royce & Associates.

Some of the new investors in Chart Industries (NASDAQ:GTLS) during the second quarter encompassed Gavin Saitowitz And Cisco J. Del Valle’s Springbok Capital, which initiated a position worth around $1.47 million, Neil Chriss’ Hutchin Hill Capital, which had $1.19 million invested in the company, Bernard Lambilliotte’s Ecofin Ltd, Jacob Gottlieb’s Visium Asset Management, and Mike Vranos’ Ellington.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
S.S. OR 1,366,151 0 1,523,226 0 1,523,226 4.98%

Richard S. Pzena
Richard S. Pzena
Pzena Investment Management

Page 1 of 6 – SEC Filing

=======================================================================
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
 
 
 
SCHEDULE 13G
 
 
                           AMENDMENT NUMBER 1
 
 
 
 
 
UNDER THE SECURITIES EXCHANGE ACT OF 1934
 
 
 
 
 
Chart Industries, Inc.
 
 
 
 
 
(Name of Issuer)
 
 
 
 
 
COMMON STOCK
 
 
 
 
 
(Title of Class of Securities)
 
 
 
 
 
16115Q308
 
 
 
 
 
(CUSIP Number)
 
 
 
 
 
August 31, 2016
 
 
 
 
 
(Date of Event which Requires Filing of this Statement)
 
 
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
[ ] Rule 13d-1(c) [ ] Rule 13d-1(d) [X] Rule 13d-1(b)
 
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 
=======================================================================

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