Ninety One UK Ltd Acquires 51,212 Shares of Baker Hughes (NASDAQ:BKR)

Ninety One UK Ltd raised its holdings in shares of Baker Hughes (NASDAQ:BKR) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 481,446 shares of the company’s stock after purchasing an additional 51,212 shares during the period. Ninety One UK Ltd’s holdings in Baker Hughes were worth $19,749,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BKR. National Pension Service lifted its holdings in shares of Baker Hughes by 6.4% during the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after purchasing an additional 81,625 shares during the last quarter. Burney Co. lifted its holdings in shares of Baker Hughes by 315.0% during the fourth quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after purchasing an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC purchased a new position in shares of Baker Hughes during the fourth quarter valued at approximately $1,180,000. Artemis Investment Management LLP lifted its holdings in shares of Baker Hughes by 29.4% during the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after purchasing an additional 239,773 shares during the last quarter. Finally, Czech National Bank lifted its holdings in shares of Baker Hughes by 6.0% during the fourth quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after purchasing an additional 12,178 shares during the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

BKR opened at $48.85 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The company has a market cap of $48.34 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 0.89 and a beta of 1.39. The company’s 50 day moving average is $43.20 and its 200 day moving average is $39.28. Baker Hughes has a 12-month low of $28.63 and a 12-month high of $48.94.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, equities research analysts predict that Baker Hughes will post 2.55 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.88%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. Baker Hughes’s dividend payout ratio is currently 28.19%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Piper Sandler increased their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday. Jefferies Financial Group increased their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Argus upgraded shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.18.

Baker Hughes 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.