Ninety One UK Ltd Buys 205,664 Shares of Baker Hughes Company $BKR

Ninety One UK Ltd grew its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 36.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 767,255 shares of the company’s stock after buying an additional 205,664 shares during the period. Ninety One UK Ltd owned 0.08% of Baker Hughes worth $42,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BKR. Amundi lifted its holdings in Baker Hughes by 28.2% in the 1st quarter. Amundi now owns 10,946,464 shares of the company’s stock worth $668,282,000 after buying an additional 2,409,978 shares in the last quarter. Advent International L.P. acquired a new stake in shares of Baker Hughes during the first quarter valued at about $72,309,000. Perpetual Ltd grew its stake in shares of Baker Hughes by 24.0% during the third quarter. Perpetual Ltd now owns 3,958,604 shares of the company’s stock valued at $217,327,000 after acquiring an additional 765,582 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Baker Hughes during the first quarter worth about $44,328,000. Finally, Baird Financial Group Inc. increased its position in shares of Baker Hughes by 341.0% during the second quarter. Baird Financial Group Inc. now owns 731,926 shares of the company’s stock worth $40,622,000 after acquiring an additional 565,947 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Down 2.8%

Shares of BKR traded down $1.56 during midday trading on Thursday, hitting $53.81. The company had a trading volume of 3,696,435 shares, compared to its average volume of 8,673,271. The company’s 50 day moving average price is $60.12 and its 200 day moving average price is $60.89. The stock has a market cap of $53.42 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 2.68 and a beta of 1.04. Baker Hughes Company has a 52 week low of $44.24 and a 52 week high of $70.41. The company has a quick ratio of 1.76, a current ratio of 2.09 and a debt-to-equity ratio of 0.77.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Monday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts predict that Baker Hughes Company will post 2.58 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 7th. Baker Hughes’s payout ratio is currently 29.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BKR shares. Stifel Nicolaus increased their price target on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Piper Sandler lifted their price objective on Baker Hughes from $71.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Wall Street Zen downgraded Baker Hughes from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. Citigroup upped their target price on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada increased their target price on Baker Hughes from $71.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.24.

About Baker Hughes

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.