QRG Capital Management Inc. Raises Stock Holdings in Baker Hughes Company $BKR

Key Points

• QRG Capital Management Inc. increased its holdings in Baker Hughes Company (NASDAQ:BKR) by 44.3% during the 2nd quarter, now owning a total of 101,293 shares worth approximately $3.88 million.
• Baker Hughes reported quarterly earnings of $0.63 per share, exceeding analysts' expectations, with a total revenue of $6.91 billion for the period, despite a 3.2% year-over-year decline.
• The company declared a quarterly dividend of $0.23 per share, representing an annualized dividend yield of 1.9% and a payout ratio of 30.07%.

QRG Capital Management Inc. grew its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 44.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,293 shares of the company's stock after buying an additional 31,088 shares during the quarter. QRG Capital Management Inc.'s holdings in Baker Hughes were worth $3,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Fortis Capital Advisors LLC raised its position in shares of Baker Hughes by 4.2% during the 2nd quarter. Fortis Capital Advisors LLC now owns 16,764 shares of the company's stock valued at $643,000 after acquiring an additional 683 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Baker Hughes during the second quarter valued at $97,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Baker Hughes by 6.8% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 99,592 shares of the company's stock worth $3,818,000 after purchasing an additional 6,380 shares during the period. Hilltop National Bank bought a new position in shares of Baker Hughes in the 2nd quarter worth about $43,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Baker Hughes by 4.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 384,650 shares of the company's stock worth $14,747,000 after buying an additional 16,924 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Baker Hughes Price Performance

NASDAQ:BKR opened at $49.08 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The business's 50-day moving average price is $45.74 and its 200 day moving average price is $41.23. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $50.92. The firm has a market cap of $48.39 billion, a P/E ratio of 16.04, a PEG ratio of 2.21 and a beta of 0.99.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same period in the prior year, the company earned $0.57 EPS. Baker Hughes's revenue was down 3.2% on a year-over-year basis. Baker Hughes has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.9%. Baker Hughes's dividend payout ratio is currently 30.07%.

Insider Activity

In other news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the executive vice president directly owned 40,520 shares of the company's stock, valued at $2,026,000. This trade represents a 38.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lorenzo Simonelli sold 526,568 shares of Baker Hughes 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 completion of the transaction, the chief executive officer owned 667,593 shares in the company, valued at $29,654,481.06. The trade was a 44.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 553,068 shares of company stock worth $24,712,651. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BKR. Industrial Alliance Securities set a $53.00 target price on Baker Hughes in a report on Wednesday, July 30th. The Goldman Sachs Group lowered their price objective on Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday, July 2nd. 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 report on Wednesday, July 16th. Capital One Financial boosted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Finally, Melius started coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They set a "buy" rating and a $60.00 price target for the company. Twenty-two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.09.

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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