Heartland Advisors, an investment management company, released its “Heartland Value Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. During the quarter the fund outperformed the Russell 2000 Value Index returning 6.7% versus 2.9% for the benchmark. Stock selection in the Financial, Industrials, and Consumer Discretionary sectors led the fund to outperform in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Heartland Value Fund featured stocks like Chart Industries, Inc. (NYSE:GTLS) in the first quarter 2024 investor letter. Headquartered in Ball Ground, Georgia, Chart Industries, Inc. (NYSE:GTLS) manufactures engineered cryogenic equipment for the energy and industrial gas industries. On April 12, 2024, Chart Industries, Inc. (NYSE:GTLS) stock closed at $154.31 per share. One-month return of Chart Industries, Inc. (NYSE:GTLS) was 5.87%, and its shares gained 18.83% of their value over the last 52 weeks. Chart Industries, Inc. (NYSE:GTLS) has a market capitalization of $6.39 billion.
Heartland Value Fund stated the following regarding Chart Industries, Inc. (NYSE:GTLS) in its first quarter 2024 investor letter:
“We continue to focus on taking what the market gives us while waiting for fat pitches to come our way. This quarter, for instance, we started a new position in Chart Industries, Inc. (NYSE:GTLS). We’ve been monitoring the stock for years and finally saw the buying opportunity we’ve been waiting for. As the leading producer of equipment for the shipment of liquefied natural gas (LNG), Chart Industries sold off sharply on the Biden Administration’s decree to pause new export permits.
We view the pause as a short-term political action in anticipation of the coming election. In any case, GTLS has robust backlogs for the next several years. And if the U.S. truly slows, Chart, an international provider, should benefit as the rest of the world accelerates LNG development…” (Click here to read the full text)
An extensive industrial gas facility with many storage tanks.
Chart Industries, Inc. (NYSE:GTLS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Chart Industries, Inc. (NYSE:GTLS) was held by 41 hedge fund portfolios, up from 37 in the previous quarter, according to our database.
We previously discussed Chart Industries, Inc. (NYSE:GTLS) in another article, where we shared Aristotle Atlantic Large Cap Growth Strategy’s perspective on the company. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
