Trade Report: Today, 559,926 Shares of Chicago Bridge & Iron Co. (CBI) are sold by Wells Fargo & Company MN

Today, 559,926 Shares of Chicago Bridge & Iron Co. (CBI) are sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its stake in Chicago Bridge & Iron Co. (NYSE:CBI) by 48.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 597,464 shares of the company’s stock after selling 559,926 shares during the period. Wells Fargo & Company MN owned 0.59% of Chicago Bridge & Iron Co. worth $16,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lawson Kroeker Investment Management Inc. NE boosted its position in shares of Chicago Bridge & Iron Co. by 1.0% in the third quarter. Lawson Kroeker Investment Management Inc. NE now owns 287,280 shares of the company’s stock valued at $8,052,000 after buying an additional 2,845 shares during the period. Gluskin Sheff & Assoc Inc. purchased a new stake in Chicago Bridge & Iron Co. during the second quarter valued at approximately $1,804,000. Mraz Amerine & Associates Inc. raised its stake in Chicago Bridge & Iron Co. by 1.7% in the second quarter. Mraz Amerine & Associates Inc. now owns 83,193 shares of the company’s stock valued at $2,881,000 after buying an additional 1,400 shares in the last quarter. LMR Partners LLP purchased a new stake in Chicago Bridge & Iron Co. during the second quarter valued at approximately $1,998,000. Finally, Janney Montgomery Scott LLC raised its stake in Chicago Bridge & Iron Co. by 117.5% in the second quarter. Janney Montgomery Scott LLC now owns 95,206 shares of the company’s stock valued at $3,516,000 after buying an additional 51,441 shares in the last quarter. 67.96% of the stock is owned by hedge funds and other institutional investors.

Shares of Chicago Bridge & Iron Co. (NYSE:CBI) traded down 0.21% during trading on Friday, reaching $33.68. 678,525 shares of the company’s stock were exchanged. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 12.28 and a beta of 2.09. The stock has a 50 day moving average price of $29.71 and a 200-day moving average price of $32.76. Chicago Bridge & Iron Co. has a 52 week low of $26.12 and a 52 week high of $43.09.

Chicago Bridge & Iron Co. (NYSE:CBI) last issued its quarterly earnings data on Thursday, October 27th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. Chicago Bridge & Iron Co. had a net margin of 2.51% and a return on equity of 22.54%. The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the business earned $1.54 earnings per share. The company’s revenue was down 16.4% on a year-over-year basis. Analysts predict that Chicago Bridge & Iron Co. will post $4.82 earnings per share for the current year.

Several analysts recently commented on CBI shares. MKM Partners set a $42.00 price target on shares of Chicago Bridge & Iron Co. and gave the company a “buy” rating in a research report on Sunday, September 4th. Vetr upgraded shares of Chicago Bridge & Iron Co. from a “hold” rating to a “buy” rating and set a $28.40 price target on the stock in a research report on Wednesday, October 26th. Zacks Investment Research upgraded shares of Chicago Bridge & Iron Co. from a “sell” rating to a “hold” rating in a research report on Monday, October 31st. Johnson Rice lowered shares of Chicago Bridge & Iron Co. from a “buy” rating to a “hold” rating and dropped their price target for the company from $57.00 to $32.00 in a research report on Wednesday, September 21st. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and set a $35.00 price target on shares of Chicago Bridge & Iron Co. in a research report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.14.

In related news, insider Patrick K. Mullen sold 18,567 shares of Chicago Bridge & Iron Co. stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $28.99, for a total transaction of $538,257.33. Following the sale, the insider now directly owns 86,655 shares in the company, valued at $2,512,128.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Chicago Bridge & Iron Co. Company Profile

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