Johnson Rice downgraded shares of Chicago Bridge & Iron Co. (NYSE:CBI) from a buy rating to a hold rating in a research report released on Wednesday.

Several other equities research analysts have also weighed in on CBI. Bank of America Corp. restated a sell rating on shares of Chicago Bridge & Iron Co. in a report on Tuesday, May 24th. Credit Suisse Group AG restated a buy rating on shares of Chicago Bridge & Iron Co. in a report on Saturday, June 4th. MKM Partners restated a buy rating and issued a $45.00 target price on shares of Chicago Bridge & Iron Co. in a report on Wednesday, June 29th. Vetr lowered Chicago Bridge & Iron Co. from a strong-buy rating to a hold rating and set a $40.30 price target for the company. in a report on Wednesday, July 20th. Finally, Robert W. Baird lowered Chicago Bridge & Iron Co. from an outperform rating to a neutral rating and cut their price target for the stock from $45.00 to $40.00 in a report on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Chicago Bridge & Iron Co. currently has an average rating of Hold and an average price target of $43.52.

Chicago Bridge & Iron Co. (NYSE:CBI) traded up 1.3054% during trading on Wednesday, reaching $26.7345. 304,025 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $31.02 and its 200-day moving average price is $35.31. Chicago Bridge & Iron Co. has a 52-week low of $26.12 and a 52-week high of $46.39. The company’s market capitalization is $2.76 billion.

Chicago Bridge & Iron Co. (NYSE:CBI) last posted its earnings results on Wednesday, July 27th. The company reported $1.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by $0.04. Chicago Bridge & Iron Co. had a positive return on equity of 24.66% and a negative net margin of 4.81%. The company earned $2.70 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the firm posted $1.55 earnings per share. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. Equities analysts expect that Chicago Bridge & Iron Co. will post $4.75 earnings per share for the current year.

The business also recently declared a dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 26th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, September 22nd. Chicago Bridge & Iron Co.’s dividend payout ratio (DPR) is -5.12%.

In other news, insider Philip K. Asherman sold 166,700 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $33.42, for a total transaction of $5,571,114.00. Following the sale, the insider now owns 666,950 shares in the company, valued at $22,289,469. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick K. Mullen sold 18,567 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $28.99, for a total value of $538,257.33. Following the sale, the insider now owns 86,655 shares in the company, valued at approximately $2,512,128.45. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Exane Derivatives boosted its stake in shares of Chicago Bridge & Iron Co. by 0.8% in the second quarter. Exane Derivatives now owns 11,277 shares of the company’s stock valued at $390,000 after buying an additional 88 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Chicago Bridge & Iron Co. by 1.0% in the first quarter. IFP Advisors Inc now owns 9,991 shares of the company’s stock valued at $366,000 after buying an additional 98 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Chicago Bridge & Iron Co. by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,495 shares of the company’s stock valued at $640,000 after buying an additional 98 shares during the last quarter. Compton Capital Management Inc. RI boosted its stake in shares of Chicago Bridge & Iron Co. by 0.9% in the first quarter. Compton Capital Management Inc. RI now owns 11,085 shares of the company’s stock valued at $406,000 after buying an additional 100 shares during the last quarter. Finally, OLD National Bancorp IN boosted its stake in shares of Chicago Bridge & Iron Co. by 2.0% in the first quarter. OLD National Bancorp IN now owns 7,941 shares of the company’s stock valued at $291,000 after buying an additional 153 shares during the last quarter. Institutional investors own 65.94% of the company’s stock.

Chicago Bridge & Iron Co. Company Profile

Chicago Bridge & Iron Company N.V. (CB&I) provides a range of services to customers in the energy infrastructure market across the world. The Company provides various services, such as conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management and environmental services.

5 Day Chart for NYSE:CBI

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