Ladenburg Thalmann Financial Services Inc. grew its stake in Chicago Bridge & Iron (NYSE:CBI) by 44.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,806 shares of the construction company’s stock after purchasing an additional 18,093 shares during the period. Ladenburg Thalmann Financial Services Inc. owned approximately 0.06% of Chicago Bridge & Iron worth $988,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in Chicago Bridge & Iron by 47.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,697 shares of the construction company’s stock worth $152,000 after acquiring an additional 2,466 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Chicago Bridge & Iron by 1,648.8% during the second quarter. Ameritas Investment Partners Inc. now owns 8,849 shares of the construction company’s stock worth $175,000 after acquiring an additional 8,343 shares during the period. Stratos Wealth Partners LTD. acquired a new position in Chicago Bridge & Iron during the third quarter worth $176,000. Cubist Systematic Strategies LLC purchased a new stake in Chicago Bridge & Iron during the second quarter worth $177,000. Finally, Wedbush Securities Inc. purchased a new stake in Chicago Bridge & Iron during the third quarter worth $196,000. 70.68% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Daniel M. Mccarthy sold 7,500 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $16.29, for a total transaction of $122,175.00. Following the transaction, the executive vice president now directly owns 104,964 shares in the company, valued at $1,709,863.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 22,500 shares of company stock worth $357,750 over the last quarter. 1.10% of the stock is currently owned by company insiders.

A number of analysts have commented on CBI shares. ValuEngine downgraded Chicago Bridge & Iron from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Bank of America set a $10.00 target price on Chicago Bridge & Iron and gave the stock a “sell” rating in a research report on Wednesday, August 30th. Robert W. Baird reiterated a “hold” rating and set a $10.00 target price on shares of Chicago Bridge & Iron in a research report on Sunday, October 22nd. Credit Suisse Group boosted their target price on Chicago Bridge & Iron from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, BidaskClub upgraded Chicago Bridge & Iron from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $19.00.

Chicago Bridge & Iron (NYSE:CBI) opened at $15.63 on Thursday. Chicago Bridge & Iron has a 12-month low of $9.55 and a 12-month high of $36.15.

Chicago Bridge & Iron (NYSE:CBI) last released its earnings results on Monday, October 30th. The construction company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.19). Chicago Bridge & Iron had a negative return on equity of 10.86% and a negative net margin of 13.33%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company posted $1.20 earnings per share. The business’s quarterly revenue was down 18.7% compared to the same quarter last year. research analysts predict that Chicago Bridge & Iron will post -1.98 EPS for the current year.

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About Chicago Bridge & Iron

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 (NYSE:CBI)

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