State of New Jersey Common Pension Fund D reduced its stake in shares of Chicago Bridge & Iron Company N.V. (NYSE:CBI) by 46.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 340,000 shares of the construction company’s stock after selling 300,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Chicago Bridge & Iron Company N.V. were worth $6,708,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Chicago Bridge & Iron Company N.V. by 3.8% in the first quarter. Vanguard Group Inc. now owns 8,368,949 shares of the construction company’s stock valued at $257,345,000 after buying an additional 308,397 shares during the period. FMR LLC increased its position in shares of Chicago Bridge & Iron Company N.V. by 832.8% in the first quarter. FMR LLC now owns 5,253,638 shares of the construction company’s stock valued at $161,550,000 after buying an additional 4,690,447 shares during the period. BlackRock Inc. increased its position in shares of Chicago Bridge & Iron Company N.V. by 3,280.3% in the first quarter. BlackRock Inc. now owns 4,175,222 shares of the construction company’s stock valued at $128,389,000 after buying an additional 4,051,706 shares during the period. Fairpointe Capital LLC increased its position in shares of Chicago Bridge & Iron Company N.V. by 34.8% in the first quarter. Fairpointe Capital LLC now owns 2,852,261 shares of the construction company’s stock valued at $87,707,000 after buying an additional 736,649 shares during the period. Finally, Beck Mack & Oliver LLC increased its position in shares of Chicago Bridge & Iron Company N.V. by 364.0% in the second quarter. Beck Mack & Oliver LLC now owns 2,617,131 shares of the construction company’s stock valued at $51,636,000 after buying an additional 2,053,099 shares during the period. 67.19% of the stock is currently owned by institutional investors.

Shares of Chicago Bridge & Iron Company N.V. (NYSE CBI) opened at 11.80 on Friday. Chicago Bridge & Iron Company N.V. has a 12-month low of $10.54 and a 12-month high of $36.56. The firm’s market capitalization is $1.19 billion. The company’s 50-day moving average price is $17.53 and its 200 day moving average price is $25.08.

Chicago Bridge & Iron Company N.V. (NYSE:CBI) last posted its earnings results on Wednesday, August 9th. The construction company reported ($2.96) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $3.81. Chicago Bridge & Iron Company N.V. had a negative net margin of 10.54% and a negative return on equity of 3.92%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The firm’s revenue for the quarter was down 40.6% on a year-over-year basis. On average, equities research analysts forecast that Chicago Bridge & Iron Company N.V. will post $0.79 EPS for the current fiscal year.

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Several equities analysts have commented on CBI shares. Credit Suisse Group downgraded Chicago Bridge & Iron Company N.V. from an “outperform” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research report on Monday, July 24th. Robert W. Baird set a $15.00 price objective on Chicago Bridge & Iron Company N.V. and gave the company a “hold” rating in a research report on Thursday, June 22nd. Wells Fargo & Company raised Chicago Bridge & Iron Company N.V. from a “market perform” rating to an “outperform” rating and set a $28.00 price objective on the stock in a research report on Wednesday, June 28th. BidaskClub downgraded Chicago Bridge & Iron Company N.V. from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, Bank of America Corporation began coverage on Chicago Bridge & Iron Company N.V. in a research report on Monday, August 7th. They set an “underperform” rating and a $14.00 price target on the stock. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Chicago Bridge & Iron Company N.V. currently has a consensus rating of “Hold” and an average target price of $26.16.

Chicago Bridge & Iron Company N.V. Company Profile

Chicago Bridge & Iron Company N.V. provides services to customers in energy infrastructure market. The Company provides services, such as conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management and environmental services.

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Institutional Ownership by Quarter for Chicago Bridge & Iron Company N.V. (NYSE:CBI)

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