Caisse DE Depot ET Placement DU Quebec Invests $35.04 Million in Baker Hughes Company $BKR

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired a new position in Baker Hughes Company, purchasing 797,200 shares valued at approximately $35 million, representing about 0.08% of the company's total shares.
• Baker Hughes reported a quarterly earnings per share of $0.63, exceeding expectations and showing a revenue of $6.91 billion, although revenue decreased 3.2% compared to the previous year.
• The company announced a quarterly dividend of $0.23 per share, which reflects an annualized payout of $0.92 and a yield of 2.1% with a payout ratio of 30.07%.

Caisse DE Depot ET Placement DU Quebec bought a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 797,200 shares of the company's stock, valued at approximately $35,037,000. Caisse DE Depot ET Placement DU Quebec owned 0.08% of Baker Hughes as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Baker Hughes by 0.8% during the first quarter. Vanguard Group Inc. now owns 122,118,216 shares of the company's stock worth $5,367,096,000 after purchasing an additional 924,501 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Baker Hughes by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,727,973 shares of the company's stock valued at $515,367,000 after buying an additional 175,495 shares in the last quarter. Invesco Ltd. boosted its position in Baker Hughes by 2.7% in the 1st quarter. Invesco Ltd. now owns 10,790,132 shares of the company's stock valued at $474,226,000 after buying an additional 283,454 shares during the period. Northern Trust Corp raised its stake in shares of Baker Hughes by 18.4% during the fourth quarter. Northern Trust Corp now owns 10,000,756 shares of the company's stock valued at $410,231,000 after acquiring an additional 1,553,536 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Baker Hughes during the first quarter valued at approximately $404,385,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Insider Activity

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total value of $23,390,150.56. Following the sale, the chief executive officer directly owned 667,593 shares in the company, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company's stock.

Baker Hughes Price Performance

Shares of BKR stock traded down $0.16 during trading hours on Friday, reaching $45.40. The company had a trading volume of 4,786,689 shares, compared to its average volume of 4,923,330. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. The stock has a fifty day moving average of $41.94 and a 200-day moving average of $40.63. The company has a market capitalization of $44.76 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.07 and a beta of 0.94. Baker Hughes Company has a 12-month low of $32.25 and a 12-month 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. Baker Hughes had a return on equity of 14.56% and a net margin of 11.04%.The business's revenue was down 3.2% compared to the same quarter last year. During the same period in the prior 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, equities analysts anticipate that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Melius Research initiated coverage on Baker Hughes in a report on Wednesday, August 20th. They set a "buy" rating and a $60.00 price objective on the stock. Seaport Res Ptn lowered Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Stifel Nicolaus dropped their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. BMO Capital Markets restated an "outperform" rating and set a $53.00 target price (up from $46.00) on shares of Baker Hughes in a research note on Wednesday, July 30th. Finally, Susquehanna upped their target price on Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $52.29.

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.