National Bank of Canada FI Purchases 464,620 Shares of Baker Hughes (NASDAQ:BKR)

National Bank of Canada FI lifted its holdings in Baker Hughes (NASDAQ:BKR) by 126.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 830,755 shares of the company’s stock after buying an additional 464,620 shares during the period. National Bank of Canada FI’s holdings in Baker Hughes were worth $28,188,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bruce G. Allen Investments LLC acquired a new stake in Baker Hughes in the fourth quarter worth $33,000. OFI Invest Asset Management acquired a new stake in shares of Baker Hughes in the 3rd quarter valued at about $36,000. Rational Advisors LLC grew its stake in shares of Baker Hughes by 44.0% in the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after buying an additional 382 shares during the period. Clearstead Advisors LLC increased its position in Baker Hughes by 38.2% in the 3rd quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock valued at $54,000 after buying an additional 421 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Baker Hughes during the 3rd quarter worth approximately $76,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

NASDAQ BKR opened at $32.00 on Tuesday. The company’s 50 day moving average is $32.39 and its 200-day moving average is $32.38. The firm has a market cap of $31.94 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 0.55 and a beta of 1.44. Baker Hughes has a 12-month low of $26.96 and a 12-month high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the business posted $0.28 earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. Sell-side analysts predict that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, May 3rd. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BKR has been the subject of a number of analyst reports. TD Cowen lifted their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Citigroup cut their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Wolfe Research lowered shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Finally, Morgan Stanley upped their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.