Baker Hughes Company $BKR Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,582 shares of the company’s stock after purchasing an additional 8,828 shares during the period. Public Sector Pension Investment Board’s holdings in Baker Hughes were worth $10,357,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brandywine Global Investment Management LLC boosted its stake in shares of Baker Hughes by 8.2% in the second quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock worth $24,850,000 after buying an additional 49,108 shares during the last quarter. Synergy Asset Management LLC acquired a new position in Baker Hughes in the third quarter valued at approximately $1,920,000. Cibc World Market Inc. boosted its position in Baker Hughes by 13.6% in the 3rd quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock worth $40,429,000 after purchasing an additional 99,314 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Baker Hughes by 23.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 458,415 shares of the company’s stock worth $22,334,000 after purchasing an additional 88,536 shares during the period. Finally, Webster Bank N. A. acquired a new stake in shares of Baker Hughes during the 3rd quarter worth approximately $3,434,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 843 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $56.34, for a total value of $47,494.62. Following the completion of the sale, the chief accounting officer owned 14,019 shares in the company, valued at approximately $789,830.46. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maria Georgia Magno sold 19,150 shares of Baker Hughes stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $59.11, for a total value of $1,131,956.50. Following the transaction, the insider owned 14,588 shares in the company, valued at approximately $862,296.68. The trade was a 56.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,001 shares of company stock valued at $2,322,692 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Baker Hughes Price Performance

NASDAQ:BKR opened at $61.20 on Tuesday. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $62.27. The stock has a 50 day moving average of $51.44 and a two-hundred day moving average of $48.44. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The firm has a market cap of $60.48 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Monday, January 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. Baker Hughes had a return on equity of 14.26% and a net margin of 9.33%.The business had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter last year, the business posted $0.70 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Baker Hughes’s payout ratio is 35.38%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BKR shares. UBS Group boosted their target price on shares of Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Evercore set a $54.00 price objective on shares of Baker Hughes in a research report on Monday, October 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 target price on shares of Baker Hughes in a research note on Thursday, January 15th. Citigroup lifted their price target on Baker Hughes from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Finally, Capital One Financial upped their price target on Baker Hughes from $53.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Twenty analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.78.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.