Baker Hughes Company $BKR Shares Purchased by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd increased its stake in Baker Hughes by 28.6% in Q4, buying an additional 104,428 shares to hold 469,329 shares worth about $21.37 million.
• Baker Hughes beat quarterly estimates with EPS of $0.78 vs. $0.67 expected and revenue of $7.39 billion vs. $7.09 billion, and declared a quarterly dividend of $0.23 (annualized $0.92, yield ~1.5%).
• Company insiders have sold heavily recently — 590,251 shares worth $35.31 million in the last 90 days (including CEO Lorenzo Simonelli's sale of 272,594 shares, ~$16.03 million) — leaving insiders with just 0.19% ownership.

Ninety One UK Ltd increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 28.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 469,329 shares of the company's stock after purchasing an additional 104,428 shares during the period. Ninety One UK Ltd's holdings in Baker Hughes were worth $21,373,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Activest Wealth Management raised its position in Baker Hughes by 1,242.5% during the 3rd quarter. Activest Wealth Management now owns 537 shares of the company's stock worth $26,000 after buying an additional 497 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Baker Hughes by 104.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company's stock valued at $32,000 after purchasing an additional 337 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock valued at $37,000 after purchasing an additional 252 shares in the last quarter. Wolff Wiese Magana LLC increased its holdings in shares of Baker Hughes by 55.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company's stock valued at $38,000 after purchasing an additional 300 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in shares of Baker Hughes by 357.8% in the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company's stock valued at $50,000 after purchasing an additional 798 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Trading Down 1.4%

NASDAQ BKR opened at $59.78 on Friday. The firm has a market capitalization of $59.08 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 2.02 and a beta of 0.90. The company's 50 day moving average price is $61.07 and its 200 day moving average price is $53.23. Baker Hughes Company has a one year low of $34.56 and a one year high of $67.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.36.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Monday, January 26th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.11. The company had revenue of $7.39 billion for the quarter, compared to analyst estimates of $7.09 billion. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The business's quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 earnings per share. On average, sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Tuesday, February 17th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.5%. Baker Hughes's dividend payout ratio (DPR) is currently 35.38%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BKR shares. UBS Group raised their target price on shares of Baker Hughes from $61.00 to $69.00 and gave the company a "neutral" rating in a report on Thursday, April 2nd. Wall Street Zen downgraded shares of Baker Hughes from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Zephirin Group raised their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a "hold" rating in a research note on Monday, January 26th. JPMorgan Chase & Co. raised their price target on shares of Baker Hughes from $53.00 to $60.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 27th. Finally, iA Financial set a $60.00 price target on shares of Baker Hughes in a research note on Tuesday, January 27th. Twenty equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $61.30.

Insider Activity at Baker Hughes

In related news, Director William G. Beattie sold 18,023 shares of Baker Hughes stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes stock in a transaction on Wednesday, March 11th. The stock was 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 owned 866,444 shares of the company's stock, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 590,251 shares of company stock worth $35,311,023 in the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

Baker Hughes 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.