Public Sector Pension Investment Board Reduces Position in Baker Hughes (NASDAQ:BKR)

Public Sector Pension Investment Board reduced its stake in Baker Hughes (NASDAQ:BKR) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,230 shares of the company’s stock after selling 400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Baker Hughes were worth $6,262,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Eagle Asset Management Inc. raised its stake in Baker Hughes by 18.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after purchasing an additional 860,219 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after buying an additional 817,227 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Baker Hughes by 63.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock valued at $72,368,000 after buying an additional 780,417 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Baker Hughes during the third quarter valued at approximately $27,914,000. Finally, Legal & General Group Plc lifted its stake in shares of Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after buying an additional 692,859 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Up 0.8 %

Shares of Baker Hughes stock opened at $43.95 on Friday. The company has a fifty day moving average price of $39.39 and a 200 day moving average price of $36.02. The stock has a market cap of $43.49 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 0.74 and a beta of 1.38. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period in the prior year, the business posted $0.42 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

Analyst Ratings Changes

Several research analysts have weighed in on BKR shares. Stifel Nicolaus boosted their price target on Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, November 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. Benchmark reiterated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. Morgan Stanley lifted their price target on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Finally, Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.76.

About Baker Hughes

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.