Ninety One UK Ltd Sells 152,115 Shares of Baker Hughes Company $BKR

Key Points

• Ninety One UK Ltd has sold 152,115 shares of Baker Hughes Company, reducing its holdings by 31.2% to 335,432 shares, valued at approximately $12.86 million by the end of the quarter.
• Baker Hughes reported $0.63 earnings per share for the last quarter, exceeding expectations, and generated revenue of $6.91 billion, although it saw a 3.2% year-over-year decline.
• The company declared a $0.23 quarterly dividend, which translates to a 1.9% annual yield, and has a dividend payout ratio of 30.07%.

Ninety One UK Ltd cut its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 31.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 335,432 shares of the company's stock after selling 152,115 shares during the quarter. Ninety One UK Ltd's holdings in Baker Hughes were worth $12,860,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BKR. Nuveen LLC acquired a new stake in Baker Hughes during the first quarter valued at approximately $404,385,000. Pacer Advisors Inc. boosted its holdings in shares of Baker Hughes by 2,585.6% in the 1st quarter. Pacer Advisors Inc. now owns 3,856,915 shares of the company's stock worth $169,511,000 after acquiring an additional 3,713,301 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Baker Hughes in the 1st quarter worth approximately $70,685,000. Strs Ohio bought a new position in Baker Hughes in the 1st quarter worth approximately $60,490,000. Finally, AQR Capital Management LLC raised its position in Baker Hughes by 27.8% in the 1st quarter. AQR Capital Management LLC now owns 5,457,164 shares of the company's stock worth $234,958,000 after purchasing an additional 1,185,456 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Down 0.7%

Shares of BKR stock opened at $48.36 on Thursday. The stock has a market cap of $47.68 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 2.22 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.92. The firm's 50-day moving average is $45.59 and its 200-day moving average is $41.17.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.08. The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $6.64 billion. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. 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. Sell-side analysts predict that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes's dividend payout ratio is currently 30.07%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Seaport Res Ptn cut shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 29th. The Goldman Sachs Group dropped their target price on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. BMO Capital Markets reiterated an "outperform" rating and set a $53.00 target price (up previously from $46.00) on shares of Baker Hughes in a research report on Wednesday, July 30th. Melius initiated coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $52.00 to $53.00 and gave the stock an "overweight" rating in a research note on Tuesday. Twenty-one research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Baker Hughes has a consensus rating of "Moderate Buy" and an average price target of $52.36.

Insider Transactions at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 667,593 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca L. Charlton sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the transaction, the chief accounting officer directly owned 11,772 shares in the company, valued at $588,600. This represents a 7.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 553,068 shares of company stock valued at $24,712,651. 0.27% of the stock is currently owned by company insiders.

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.

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