Russell Investments Group Ltd. Sells 70,660 Shares of Chicago Bridge & Iron (CBI)

Russell Investments Group Ltd. cut its holdings in shares of Chicago Bridge & Iron (NYSE:CBI) by 91.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,605 shares of the construction company’s stock after selling 70,660 shares during the quarter. Russell Investments Group Ltd.’s holdings in Chicago Bridge & Iron were worth $111,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Chicago Bridge & Iron by 51.9% during the second quarter. BlackRock Inc. now owns 6,340,731 shares of the construction company’s stock worth $125,104,000 after buying an additional 2,165,509 shares during the period. Sterneck Capital Management LLC purchased a new position in Chicago Bridge & Iron during the second quarter worth about $1,657,000. IFP Advisors Inc lifted its position in Chicago Bridge & Iron by 46.0% during the third quarter. IFP Advisors Inc now owns 25,366 shares of the construction company’s stock worth $426,000 after buying an additional 7,994 shares during the period. Cetera Investment Advisers purchased a new position in Chicago Bridge & Iron during the second quarter worth about $761,000. Finally, Bank of New York Mellon Corp lifted its position in Chicago Bridge & Iron by 39.7% during the second quarter. Bank of New York Mellon Corp now owns 481,964 shares of the construction company’s stock worth $9,509,000 after buying an additional 137,077 shares during the period. Hedge funds and other institutional investors own 70.68% of the company’s stock.

Shares of Chicago Bridge & Iron (NYSE:CBI) opened at $18.13 on Wednesday. Chicago Bridge & Iron has a 12 month low of $9.55 and a 12 month high of $36.15. The company has a market capitalization of $1,840.00, a PE ratio of -1.88, a price-to-earnings-growth ratio of 1.05 and a beta of 2.22.

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

In other news, EVP Daniel M. Mccarthy sold 7,500 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $16.07, for a total value of $120,525.00. Following the completion of the sale, the executive vice president now owns 89,964 shares in the company, valued at $1,445,721.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 22,500 shares of company stock valued at $357,750. Insiders own 1.10% of the company’s stock.

Several equities analysts recently weighed in on CBI shares. KeyCorp reiterated a “hold” rating on shares of Chicago Bridge & Iron in a research report on Friday, September 22nd. Deutsche Bank restated a “buy” rating and set a $20.00 price target (up from $16.00) on shares of Chicago Bridge & Iron in a research note on Tuesday, October 24th. MKM Partners restated a “buy” rating and set a $21.00 price target (up from $17.00) on shares of Chicago Bridge & Iron in a research note on Wednesday, October 4th. Credit Suisse Group upped their price target on Chicago Bridge & Iron from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Finally, Vertical Research restated a “buy” rating and set a $20.00 price target on shares of Chicago Bridge & Iron in a research note on Thursday, September 14th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $19.43.

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Chicago Bridge & Iron 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.

Institutional Ownership by Quarter for Chicago Bridge & Iron (NYSE:CBI)

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