Victory Capital Management Inc. Buys New Position in Baker Hughes Incorporated (BHGE)
Victory Capital Management Inc. bought a new stake in shares of Baker Hughes Incorporated (NYSE:BHGE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,063 shares of the company’s stock, valued at approximately $259,000.
Several other institutional investors and hedge funds have also bought and sold shares of BHGE. First Bank & Trust purchased a new position in shares of Baker Hughes during the third quarter valued at approximately $101,000. Trust Co. of Vermont purchased a new stake in Baker Hughes in the third quarter worth $105,000. Carroll Financial Associates Inc. purchased a new stake in Baker Hughes in the third quarter worth $136,000. M&R Capital Management Inc. purchased a new stake in Baker Hughes in the second quarter worth $141,000. Finally, Alpha Windward LLC purchased a new stake in Baker Hughes in the third quarter worth $167,000. 84.69% of the stock is currently owned by hedge funds and other institutional investors.
In other Baker Hughes news, insider Matthias L. Heilmann purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was purchased at an average cost of $30.04 per share, with a total value of $45,060.00. Following the purchase, the insider now owns 3,500 shares of the company’s stock, valued at $105,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.
Baker Hughes Incorporated (NYSE:BHGE) opened at $30.80 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.90 and a quick ratio of 1.29. Baker Hughes Incorporated has a 1-year low of $29.62 and a 1-year high of $68.59.
Baker Hughes (NYSE:BHGE) last posted its quarterly earnings data on Friday, October 20th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). The company had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.52 billion. Baker Hughes had a negative net margin of 6.66% and a negative return on equity of 0.84%. The firm’s revenue for the quarter was up 77.7% on a year-over-year basis. analysts anticipate that Baker Hughes Incorporated will post 0.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.34%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, November 3rd. Baker Hughes’s dividend payout ratio (DPR) is presently -32.98%.
BHGE has been the topic of several analyst reports. Zacks Investment Research raised Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, November 13th. B. Riley reissued a “neutral” rating on shares of Baker Hughes in a report on Friday, November 3rd. Barclays PLC set a $41.00 price target on Baker Hughes and gave the company a “buy” rating in a report on Thursday, October 26th. Citigroup Inc. lowered their price target on Baker Hughes from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, October 25th. Finally, Royal Bank Of Canada set a $38.00 price target on Baker Hughes and gave the company an “outperform” rating in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. Baker Hughes presently has a consensus rating of “Hold” and an average price target of $40.74.
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