Kayne Anderson Rudnick Investment Management LLC Boosts Stock Position in Baker Hughes Company $BKR

Key Points

• Kayne Anderson Rudnick Investment Management LLC significantly increased its stake in Baker Hughes Company by purchasing 9,522 additional shares, resulting in a total of 9,619 shares valued at approximately $423,000.
• CEO Lorenzo Simonelli sold over 526,000 shares of Baker Hughes stock in a transaction valued at around $23.39 million, marking a 44.1% decrease in his position.
• Baker Hughes reported a quarterly earnings per share (EPS) of $0.63, exceeding analysts' expectations, but showed a 3.2% decline in revenue year-over-year, totaling $6.91 billion.

Kayne Anderson Rudnick Investment Management LLC raised its holdings in Baker Hughes Company (NASDAQ:BKR - Free Report) by 9,816.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,619 shares of the company's stock after purchasing an additional 9,522 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Baker Hughes were worth $423,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Comerica Bank raised its position in Baker Hughes by 1.7% in the first quarter. Comerica Bank now owns 186,919 shares of the company's stock valued at $8,215,000 after purchasing an additional 3,063 shares during the period. ICONIQ Capital LLC purchased a new stake in shares of Baker Hughes in the 1st quarter valued at $234,000. Quantitative Investment Management LLC purchased a new stake in shares of Baker Hughes in the 1st quarter valued at $496,000. AlphaQuest LLC raised its holdings in shares of Baker Hughes by 1,566.9% in the 1st quarter. AlphaQuest LLC now owns 28,988 shares of the company's stock valued at $1,274,000 after buying an additional 27,249 shares during the period. Finally, Kestra Advisory Services LLC raised its holdings in shares of Baker Hughes by 68.1% in the 1st quarter. Kestra Advisory Services LLC now owns 64,345 shares of the company's stock valued at $2,828,000 after buying an additional 26,064 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BKR shares. BMO Capital Markets reiterated an "outperform" rating and issued a $53.00 price objective (up previously from $46.00) on shares of Baker Hughes in a report on Wednesday, July 30th. Seaport Res Ptn downgraded Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Susquehanna boosted their price objective on Baker Hughes from $46.00 to $52.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Evercore ISI boosted their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group cut their price objective on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a report on Wednesday, July 2nd. Twenty investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.29.

Baker Hughes Stock Performance

Shares of NASDAQ BKR traded down $0.16 during trading hours on Monday, reaching $45.40. The stock had a trading volume of 4,786,689 shares, compared to its average volume of 4,796,474. The firm has a market cap of $44.76 billion, a price-to-earnings ratio of 14.84, 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 fifty-two week low of $32.25 and a fifty-two week high of $49.40. The firm has a 50-day moving average of $41.94 and a 200-day moving average of $40.59.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its 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 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 business's revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

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

Insider Activity

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 667,593 shares of the company's stock, valued at $29,654,481.06. This represents a 44.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.