266,800 Shares in Baker Hughes (NASDAQ:BKR) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in Baker Hughes (NASDAQ:BKRFree Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 266,800 shares of the company’s stock, valued at approximately $9,423,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Miller Howard Investments Inc. NY boosted its position in Baker Hughes by 0.5% in the third quarter. Miller Howard Investments Inc. NY now owns 55,658 shares of the company’s stock worth $1,966,000 after purchasing an additional 303 shares during the last quarter. Lindbrook Capital LLC boosted its position in Baker Hughes by 22.5% in the second quarter. Lindbrook Capital LLC now owns 1,658 shares of the company’s stock worth $52,000 after purchasing an additional 304 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Baker Hughes by 0.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 34,422 shares of the company’s stock valued at $1,088,000 after buying an additional 311 shares during the last quarter. Quarry LP lifted its position in shares of Baker Hughes by 41.3% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $36,000 after buying an additional 331 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Baker Hughes by 3.4% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,652 shares of the company’s stock valued at $315,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 92.22% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $29.50 on Tuesday. The firm has a market capitalization of $29.68 billion, a P/E ratio of 15.45 and a beta of 1.43. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The stock’s 50-day simple moving average is $31.81 and its two-hundred day simple moving average is $33.97. Baker Hughes has a twelve month low of $26.12 and a twelve month high of $37.58.

Baker Hughes (NASDAQ:BKRGet Free Report) last announced its earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. As a group, equities analysts anticipate that Baker Hughes will post 2.12 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, February 12th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.85%. Baker Hughes’s dividend payout ratio is 43.98%.

Wall Street Analyst Weigh In

BKR has been the topic of a number of recent research reports. Citigroup dropped their price target on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. TD Cowen upped their price target on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Barclays dropped their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $40.44.

Check Out Our Latest Stock Report on Baker Hughes

Baker Hughes Company Profile

(Free Report)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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.

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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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