Chicago Bridge & Iron Co. (NYSE:CBI) shares dropped 7.9% during trading on Friday . The company traded as low as $35.57 and last traded at $35.67, with a volume of 2,786,050 shares changing hands. The stock had previously closed at $38.75.

CBI has been the topic of a number of research reports. Goldman Sachs Group Inc. upped their price objective on Chicago Bridge & Iron Co. from $35.00 to $40.00 in a report on Monday, March 28th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $45.00 price objective (up from $41.00) on shares of Chicago Bridge & Iron Co. in a report on Wednesday, April 6th. Robert W. Baird reaffirmed a “buy” rating on shares of Chicago Bridge & Iron Co. in a report on Monday, April 18th. MKM Partners reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Chicago Bridge & Iron Co. in a report on Wednesday, June 29th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Chicago Bridge & Iron Co. in a report on Saturday, June 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $47.19.

The firm has a 50 day moving average of $36.59 and a 200 day moving average of $36.41. The firm’s market capitalization is $3.79 billion.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Monday, June 20th were paid a $0.07 dividend. The ex-dividend date was Thursday, June 16th. This represents a $0.28 annualized dividend and a dividend yield of 0.78%.

In other Chicago Bridge & Iron Co. news, CAO Westley S. Stockton sold 3,000 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $39.31, for a total value of $117,930.00. Following the sale, the chief accounting officer now directly owns 19,728 shares in the company, valued at $775,507.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Beth A. Bailey sold 2,701 shares of the business’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $38.00, for a total value of $102,638.00. Following the completion of the sale, the executive vice president now owns 143,304 shares in the company, valued at $5,445,552. The disclosure for this sale can be found here.

Several hedge funds have recently modified their holdings of the stock. Gulf International Bank UK Ltd raised its stake in shares of Chicago Bridge & Iron Co. by 8.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 30,920 shares of the company’s stock valued at $1,206,000 after buying an additional 2,300 shares during the last quarter. Twin Capital Management Inc. raised its stake in shares of Chicago Bridge & Iron Co. by 102.4% in the fourth quarter. Twin Capital Management Inc. now owns 38,580 shares of the company’s stock valued at $1,504,000 after buying an additional 19,520 shares during the last quarter. Andra AP fonden raised its stake in shares of Chicago Bridge & Iron Co. by 155.5% in the fourth quarter. Andra AP fonden now owns 60,300 shares of the company’s stock valued at $2,351,000 after buying an additional 36,700 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Chicago Bridge & Iron Co. by 1.1% in the fourth quarter. Rhumbline Advisers now owns 62,934 shares of the company’s stock valued at $2,454,000 after buying an additional 682 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Chicago Bridge & Iron Co. by 47.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 64,617 shares of the company’s stock valued at $2,519,000 after buying an additional 20,708 shares during the last quarter.

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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