Canada Post Corp Registered Pension Plan lifted its holdings in shares of Baker Hughes Company (NASDAQ:BKR – Free Report) by 71.4% in the fourth quarter, HoldingsChannel reports. The firm owned 28,150 shares of the company’s stock after acquiring an additional 11,730 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Baker Hughes were worth $1,282,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of BKR. Capital International Investors purchased a new position in shares of Baker Hughes during the 3rd quarter worth approximately $729,670,000. Bessemer Group Inc. increased its stake in shares of Baker Hughes by 12,983.5% during the 4th quarter. Bessemer Group Inc. now owns 3,491,322 shares of the company’s stock worth $158,994,000 after purchasing an additional 3,464,637 shares in the last quarter. Capital World Investors increased its stake in shares of Baker Hughes by 7.1% during the 3rd quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock worth $2,316,462,000 after purchasing an additional 3,153,709 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Baker Hughes during the 4th quarter worth approximately $119,078,000. Finally, First Trust Advisors LP increased its stake in shares of Baker Hughes by 25.7% during the 3rd quarter. First Trust Advisors LP now owns 9,325,417 shares of the company’s stock worth $454,334,000 after purchasing an additional 1,906,384 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Baker Hughes
In other news, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at $50,938,242.76. The trade was a 23.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total transaction of $298,919.52. Following the sale, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. This represents a 24.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 550,250 shares of company stock valued at $32,988,331 over the last three months. Corporate insiders own 0.19% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on Baker Hughes
Baker Hughes Trading Up 3.3%
Shares of BKR opened at $66.21 on Tuesday. The stock has a fifty day moving average of $62.28 and a two-hundred day moving average of $55.74. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The company has a market capitalization of $65.68 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. Baker Hughes Company has a fifty-two week low of $35.83 and a fifty-two week high of $70.41.
Baker Hughes (NASDAQ:BKR – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.Baker Hughes’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. As a group, analysts forecast that Baker Hughes Company will post 2.32 EPS for the current year.
Baker Hughes Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. Baker Hughes’s payout ratio is currently 29.39%.
Baker Hughes Company Profile
Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.
The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.
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