Here’s Why Chart Industries (GTLS) Declined in Q4
Aristotle Atlantic Partners, LLC, an investment advisor, released its “Large Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, Aristotle Atlantic’s Large Cap Growth Strategy delivered 13.61% gross of fees (13.43% net of fees) underperforming the Russell 1000 Growth Index’s return of 14.16%. Both Security selection and allocation effects led the portfolio to underperform in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Atlantic Large Cap Growth Strategy featured stocks like Chart Industries, Inc. (NYSE:GTLS) in the fourth quarter 2023 investor letter. Headquartered in Ball Ground, Georgia, Chart Industries, Inc. (NYSE:GTLS) manufactures engineered cryogenic equipment for the energy and industrial gas industries. On February 28, 2024, Chart Industries, Inc. (NYSE:GTLS) stock closed at $147.68 per share. One-month return of Chart Industries, Inc. (NYSE:GTLS) was 21.31%, and its shares gained 7.76% of their value over the last 52 weeks. Chart Industries, Inc. (NYSE:GTLS) has a market capitalization of $6.313 billion.
Aristotle Atlantic Large Cap Growth Strategy stated the following regarding Chart Industries, Inc. (NYSE:GTLS) in its fourth quarter 2023 investor letter:
"Chart Industries, Inc. (NYSE:GTLS) detracted from portfolio performance in the fourth quarter. The company reported disappointing third quarter earnings and revenue in late October. According to company management, the shortfall was due to the timing of the deliveries of some projects that were delayed into the fourth quarter of 2023 and into 2024. On a positive note, initial earnings and revenue guidance for 2024 EPS were disclosed on the October earnings call, which was significantly above analyst consensus. This guidance was reaffirmed at the company’s investor day in December."
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 discussed Chart Industries, Inc. (NYSE:GTLS) in another article and shared NZS Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
