Wedge Capital Management L L P NC Sells 127,642 Shares of Baker Hughes (NASDAQ:BKR)

Wedge Capital Management L L P NC lowered its position in Baker Hughes (NASDAQ:BKR - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 363,128 shares of the company's stock after selling 127,642 shares during the quarter. Wedge Capital Management L L P NC's holdings in Baker Hughes were worth $15,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. JFS Wealth Advisors LLC grew its stake in shares of Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock valued at $27,000 after buying an additional 386 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Baker Hughes during the 4th quarter valued at about $30,000. Larson Financial Group LLC grew its position in Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after acquiring an additional 216 shares during the last quarter. Kestra Investment Management LLC bought a new position in Baker Hughes during the 4th quarter worth approximately $45,000. Finally, OFI Invest Asset Management purchased a new position in Baker Hughes in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BKR shares. TD Cowen dropped their price objective on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the company a "buy" rating in a report on Thursday, April 24th. Barclays dropped their price target on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Benchmark restated a "buy" rating and issued a $57.00 price objective on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, TD Securities lowered their price objective 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, April 24th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Stock Up 2.0%

Shares of NASDAQ BKR traded up $0.75 during mid-day trading on Friday, hitting $37.90. 4,268,185 shares of the stock traded hands, compared to its average volume of 7,083,322. The company has a market cap of $37.55 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 2.00 and a beta of 0.91. The stock has a fifty day moving average price of $37.30 and a 200-day moving average price of $41.56. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Research analysts anticipate that Baker Hughes 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, May 16th. Investors of record on Tuesday, May 6th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's payout ratio is currently 31.40%.

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.