Chicago Bridge & Iron Co. (NYSE:CBI) was downgraded by investment analysts at Johnson Rice to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other research analysts have also commented on the company. Bank of America Corp. reiterated a “sell” rating on shares of Chicago Bridge & Iron Co. in a research report on Tuesday, May 24th. Credit Suisse Group AG reiterated a “buy” rating on shares of Chicago Bridge & Iron Co. in a report on Saturday, June 4th. MKM Partners reiterated a “buy” rating and issued a $45.00 price target 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 lowered their price target for the company from $45.00 to $40.00 in a report on Friday, July 22nd. Three equities 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 given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $43.52.

Shares of Chicago Bridge & Iron Co. (NYSE:CBI) opened at 26.78 on Wednesday. Chicago Bridge & Iron Co. has a one year low of $26.77 and a one year high of $46.39. The company’s 50-day moving average price is $31.22 and its 200 day moving average price is $35.37. The stock’s market capitalization is $2.76 billion.

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

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

In other news, insider Philip K. Asherman sold 248,500 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $32.96, for a total transaction of $8,190,560.00. Following the sale, the insider now directly owns 478,050 shares of the company’s stock, valued at $15,756,528. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick K. Mullen sold 11,985 shares of the business’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $36.65, for a total transaction of $439,250.25. Following the sale, the executive vice president now directly owns 105,222 shares in the company, valued at $3,856,386.30. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Cedar Wealth Management LLC raised its stake in shares of Chicago Bridge & Iron Co. by 66.0% in the second quarter. Cedar Wealth Management LLC now owns 3,570 shares of the company’s stock worth $124,000 after buying an additional 1,420 shares during the period. Pinkerton Retirement Specialists LLC bought a new stake in shares of Chicago Bridge & Iron Co. during the second quarter worth $143,000. Societe Generale bought a new stake in shares of Chicago Bridge & Iron Co. during the second quarter worth $156,000. SG Americas Securities LLC raised its stake in shares of Chicago Bridge & Iron Co. by 38.6% in the second quarter. SG Americas Securities LLC now owns 4,505 shares of the company’s stock worth $156,000 after buying an additional 1,255 shares during the period. Finally, Simmons Bank bought a new stake in shares of Chicago Bridge & Iron Co. during the first quarter worth $202,000. 65.94% of the stock is currently owned by hedge funds and other institutional investors.

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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