Allspring Global Investments Holdings LLC Grows Position in Baker Hughes Company (NASDAQ:BKR)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 10.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,109,441 shares of the company's stock after purchasing an additional 568,365 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.62% of Baker Hughes worth $273,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BKR. Norges Bank purchased a new position in shares of Baker Hughes during the 4th quarter worth $829,092,000. Raymond James Financial Inc. purchased a new position in Baker Hughes during the 4th quarter valued at about $291,289,000. Neuberger Berman Group LLC boosted its holdings in Baker Hughes by 2,527.6% during the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock valued at $136,158,000 after acquiring an additional 3,193,089 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Baker Hughes during the 4th quarter valued at about $128,542,000. Finally, FMR LLC boosted its holdings in Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after acquiring an additional 1,744,225 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $38.06 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34. Baker Hughes Company has a fifty-two week low of $32.25 and a fifty-two week high of $49.40. The firm has a market capitalization of $37.71 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 4.07 and a beta of 0.91. The stock's 50-day simple moving average is $37.48 and its 200-day simple moving average is $41.10.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. As a group, equities research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

Analyst Ratings Changes

BKR has been the subject of a number of research analyst reports. Citigroup lowered their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the company a "buy" rating in a report on Thursday, April 24th. Susquehanna lowered their target price on Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a report on Thursday, April 24th. Barclays lowered their target price on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Royal Bank Of Canada lowered their target price on Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $49.11.

Baker Hughes Company 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.

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