Trading Report: The Concert Wealth Management Inc. invests in Chicago Bridge & Iron Co. (CBI) Shares

The Concert Wealth Management Inc. invests in Chicago Bridge & Iron Co. (CBI) Shares

Concert Wealth Management Inc. increased its position in shares of Chicago Bridge & Iron Co. (NYSE:CBI) by 59.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,073 shares of the company’s stock after buying an additional 3,376 shares during the period. Concert Wealth Management Inc.’s holdings in Chicago Bridge & Iron Co. were worth $313,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in shares of Chicago Bridge & Iron Co. during the second quarter worth $201,000. Simmons Bank bought a new stake in shares of Chicago Bridge & Iron Co. during the first quarter worth $202,000. Huntington Asset Advisors Inc. bought a new stake in shares of Chicago Bridge & Iron Co. during the first quarter worth $220,000. 1st Global Advisors Inc. raised its stake in shares of Chicago Bridge & Iron Co. by 6.4% in the second quarter. 1st Global Advisors Inc. now owns 6,651 shares of the company’s stock worth $230,000 after buying an additional 402 shares during the last quarter. Finally, City Holding Co. raised its stake in shares of Chicago Bridge & Iron Co. by 76.8% in the second quarter. City Holding Co. now owns 7,115 shares of the company’s stock worth $246,000 after buying an additional 3,091 shares during the last quarter. 65.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Chicago Bridge & Iron Co. (NYSE:CBI) traded down 0.61% during mid-day trading on Friday, reaching $27.54. 919,058 shares of the company’s stock were exchanged. Chicago Bridge & Iron Co. has a one year low of $26.12 and a one year high of $46.39. The company’s market capitalization is $2.84 billion. The company’s 50-day moving average price is $28.52 and its 200-day moving average price is $34.32.

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

The company also recently declared a dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 26th were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, September 22nd. Chicago Bridge & Iron Co.’s dividend payout ratio is currently -5.12%.

Several equities research analysts recently commented on CBI shares. Robert W. Baird lowered shares of Chicago Bridge & Iron Co. from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $40.00 in a research note on Friday, July 22nd. Credit Suisse Group AG dropped their price objective on shares of Chicago Bridge & Iron Co. from $46.00 to $37.00 and set an “outperform” rating on the stock in a research note on Monday, September 26th. Johnson Rice lowered shares of Chicago Bridge & Iron Co. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $57.00 to $32.00 in a research note on Wednesday, September 21st. MKM Partners reissued a “buy” rating and set a $45.00 price objective on shares of Chicago Bridge & Iron Co. in a research note on Wednesday, June 29th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $35.00 price objective on shares of Chicago Bridge & Iron Co. in a research note on Monday, August 1st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Chicago Bridge & Iron Co. currently has a consensus rating of “Hold” and a consensus target price of $40.18.

In related news, insider Philip K. Asherman sold 166,700 shares of Chicago Bridge & Iron Co. stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $33.42, for a total value of $5,571,114.00. Following the completion of the sale, the insider now directly owns 666,950 shares in the company, valued at approximately $22,289,469. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip K. Asherman sold 248,500 shares of Chicago Bridge & Iron Co. stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $32.96, for a total transaction of $8,190,560.00. Following the completion of the sale, the insider now owns 478,050 shares of the company’s stock, valued at $15,756,528. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

About Chicago Bridge & Iron Co.

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.

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