Baker Hughes Company $BKR Shares Acquired by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board significantly increased its stake in Baker Hughes Company by 462.2% in the first quarter, acquiring over 875,000 shares to hold a total of around 1.06 million shares.
• Baker Hughes reported earnings of $0.63 per share for the last quarter, surpassing analysts' expectations, and generated $6.91 billion in revenue.
• The company declared a quarterly dividend of $0.23 per share, resulting in a 2.0% dividend yield and a payout ratio of about 30.07%.

Canada Pension Plan Investment Board boosted its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 462.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,064,661 shares of the company's stock after purchasing an additional 875,275 shares during the quarter. Canada Pension Plan Investment Board owned about 0.11% of Baker Hughes worth $46,792,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Prosperity Consulting Group LLC lifted its stake in Baker Hughes by 2.7% in the first quarter. Prosperity Consulting Group LLC now owns 10,533 shares of the company's stock valued at $463,000 after acquiring an additional 278 shares during the last quarter. Greenleaf Trust lifted its position in Baker Hughes by 2.2% during the first quarter. Greenleaf Trust now owns 13,852 shares of the company's stock worth $609,000 after purchasing an additional 293 shares during the period. TCTC Holdings LLC lifted its stake in Baker Hughes by 7.7% during the first quarter. TCTC Holdings LLC now owns 4,219 shares of the company's stock worth $185,000 after purchasing an additional 301 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of Baker Hughes by 76.2% in the 1st quarter. Grove Bank & Trust now owns 740 shares of the company's stock valued at $33,000 after purchasing an additional 320 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its stake in shares of Baker Hughes by 1.0% in the 1st quarter. Ritholtz Wealth Management now owns 34,725 shares of the company's stock valued at $1,526,000 after acquiring an additional 339 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Up 2.9%

Baker Hughes stock traded up $1.32 during trading hours on Thursday, hitting $46.32. 4,127,608 shares of the stock traded hands, compared to its average volume of 7,700,184. The firm's 50-day moving average price is $42.38 and its two-hundred day moving average price is $40.65. The company has a market cap of $45.67 billion, a PE ratio of 15.13, a PEG ratio of 2.07 and a beta of 1.01. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. Baker Hughes Company has a one year low of $32.25 and a one year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. The firm had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The company's revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio (DPR) is presently 30.07%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BKR shares. Evercore ISI lifted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Susquehanna boosted their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. BMO Capital Markets restated an "outperform" rating and set a $53.00 price target (up from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Barclays boosted their price target on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Stifel Nicolaus dropped their price target on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and a consensus target price of $52.29.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the transaction, the chief executive officer directly owned 667,593 shares of the company's stock, valued at $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

About Baker Hughes

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.