Canada Pension Plan Investment Board Decreases Stake in Baker Hughes (NASDAQ:BKR)

Canada Pension Plan Investment Board lowered its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 21.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,386 shares of the company's stock after selling 52,312 shares during the quarter. Canada Pension Plan Investment Board's holdings in Baker Hughes were worth $7,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Baker Hughes during the 4th quarter valued at approximately $829,092,000. Raymond James Financial Inc. bought a new position in shares of Baker Hughes in the fourth quarter worth approximately $291,289,000. Neuberger Berman Group LLC increased its stake in shares of Baker Hughes by 2,527.6% in the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock worth $136,158,000 after purchasing an additional 3,193,089 shares in the last quarter. Congress Asset Management Co. purchased a new position in shares of Baker Hughes during the 4th quarter valued at $107,155,000. Finally, FMR LLC boosted its holdings in Baker Hughes by 12.5% in the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after buying an additional 1,744,225 shares during the period. Institutional investors own 92.06% of the company's stock.

Insider Transactions at Baker Hughes

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 shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company's stock.

Baker Hughes Stock Up 0.2 %

Shares of Baker Hughes stock traded up $0.07 during trading on Friday, hitting $36.45. 7,102,964 shares of the stock traded hands, compared to its average volume of 6,900,110. 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 stock's fifty day simple moving average is $41.39 and its 200 day simple moving average is $42.10. The firm has a market cap of $36.09 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. On average, equities analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.52%. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Royal Bank of Canada dropped their price target on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday. Barclays lowered their target price on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday. TD Cowen cut their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Stifel Nicolaus set a $50.00 price target on Baker Hughes and gave the company a "buy" rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.11.

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.