Hedge Funds Are Betting On Chicago Bridge & Iron Company N.V. (CBI)

Is Chicago Bridge & Iron Company N.V. (NYSE:CBI) a healthy stock for your portfolio? Prominent investors are getting more bullish. The number of bullish hedge fund positions rose by 4 lately.

Chicago Bridge & Iron Company N.V. (NYSE:CBI)

 

Some recent news about the stock: Chicago Bridge & Iron Company N.V. was downgraded by stock analysts at Johnson Rice from a “focus list” rating to an “overweight” rating in a report from TheFlyOnTheWall.com.

Keeping this in mind, we’re going to take a gander at the key action regarding Chicago Bridge & Iron Company N.V. (NYSE:CBI).

Hedge fund activity in Chicago Bridge & Iron Company N.V. (NYSE:CBI)

In preparation for this quarter, a total of 36 of the hedge funds the experts at Insider Monkey track were bullish in this stock, a change of 13 percent from one quarter earlier. With hedgies’ sentiment swirling, there exists a select group of noteworthy hedge fund managers who were increasing their holdings meaningfully.

According to hedge fund experts at Insider Monkey, Berkshire Hathaway, managed by Warren Buffett, holds the biggest position in Chicago Bridge & Iron Company N.V. (NYSE:CBI). Berkshire Hathaway has a $647.3 million position in the stock, comprising 0.7 percent of its 13F portfolio. Sitting at the No. 2 spot is Balyasny Asset Management, led by Dmitry Balyasny, holding a $209.9 million position; 2.8 percent of its 13F portfolio is allocated to the stock. Some other hedge funds that hold long positions: Robert Pitts’s Steadfast Capital Management, David Tepper’s Appaloosa Management LP and D. E. Shaw’s D E Shaw.

Consequently, key money managers have been driving this bullishness. Scopus Asset Management, managed by Alexander Mitchell, created the largest position in Chicago Bridge & Iron Company N.V. (NYSE:CBI). Scopus Asset Management had 24.7 million invested in the company at the end of the quarter. Matthew Knauer and Mina Faltas’s Nokota Management also made a $10.2 million investment in the stock during the quarter. The other funds with brand new CBI positions are John Murphy’s Alydar Capital, Dmitry Balyasny’s Balyasny Asset Management, and Stanley Shopkorn and Douglas Day’s Hilltop Park Associates.

What do corporate executives and insiders think about Chicago Bridge & Iron Company N.V. (NYSE:CBI)?

Bullish insider trading is at its handiest when the company we’re looking at has experienced transactions within the past half-year. Over the latest half-year time period, Chicago Bridge & Iron Company N.V. (NYSE:CBI) has seen zero unique insiders buying, and 10 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Chicago Bridge & Iron Company N.V. (NYSE:CBI). These stocks are Pike Electric Corporation (NYSE:PIKE), MYR Group Inc (NASDAQ:MYRG), Comfort Systems USA, Inc. (NYSE:FIX), Emcor Group Inc (NYSE:EME), and Quanta Services Inc (NYSE:PWR). This group of stocks are the members of the general contractors industry and their market caps are similar to CBI’s market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
Pike Electric Corporation (NYSE:PIKE) 20 0 1
MYR Group Inc (NASDAQ:MYRG) 9 0 3
Comfort Systems USA, Inc. (NYSE:FIX) 11 1 7
Emcor Group Inc (NYSE:EME) 28 0 3
Quanta Services Inc (NYSE:PWR) 37 0 1

Among the hedge funds Insider Monkey tracks, Chicago Bridge & Iron Company N.V. is nearly as widely held as the most popular general contractors industry stock: Quanta Services Inc.


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