SCS Capital Management LLC Buys New Holdings in Baker Hughes Company $BKR

Key Points

• SCS Capital Management LLC acquired 6,194 shares of Baker Hughes Company, totaling approximately $272,000, marking a new position for the firm in the 1st quarter.
• CEO Lorenzo Simonelli sold 526,568 shares for over $23 million, significantly reducing his ownership stake by 44.10% to 667,593 shares.
• Baker Hughes reported quarterly earnings of $0.63 per share, exceeding estimates of $0.55, and posted revenue of $6.91 billion, slightly below the expected $6.64 billion.

SCS Capital Management LLC acquired a new position in Baker Hughes Company (NASDAQ:BKR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,194 shares of the company's stock, valued at approximately $272,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Baker Hughes by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,262,413 shares of the company's stock worth $407,083,000 after buying an additional 707,471 shares during the period. Woodline Partners LP lifted its holdings in Baker Hughes by 40.8% in the 1st quarter. Woodline Partners LP now owns 83,650 shares of the company's stock worth $3,676,000 after buying an additional 24,225 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Baker Hughes in the 1st quarter worth approximately $23,679,000. Dean Capital Management lifted its holdings in Baker Hughes by 2.3% in the 1st quarter. Dean Capital Management now owns 37,889 shares of the company's stock worth $1,665,000 after buying an additional 835 shares during the period. Finally, MBB Public Markets I LLC purchased a new stake in Baker Hughes in the 1st quarter worth approximately $312,000. Hedge funds and other institutional investors own 92.06% of the company's stock.

Insiders Place Their Bets

In related news, CEO Lorenzo Simonelli sold 526,568 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $44.42, for a total transaction of $23,390,150.56. Following the completion of the transaction, the chief executive officer owned 667,593 shares of the company's stock, valued at $29,654,481.06. This trade represents a 44.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by company insiders.

Baker Hughes Stock Down 1.0%

BKR stock opened at $46.49 on Friday. Baker Hughes Company has a twelve month low of $33.13 and a twelve month high of $49.40. 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 firm has a market cap of $45.83 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 2.14 and a beta of 1.01. The business has a 50 day moving average of $43.40 and a 200 day moving average of $40.66.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data 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 return on equity of 14.56% and a net margin of 11.04%.The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter last year, the company earned $0.57 EPS. The firm's revenue for the quarter 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. On average, research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have weighed in on BKR. Melius began coverage on Baker Hughes in a report on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price objective for the company. TD Cowen increased their target price on Baker Hughes from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Barclays increased their target price on Baker Hughes from $48.00 to $53.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Susquehanna increased their target price on Baker Hughes from $46.00 to $52.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Finally, Stifel Nicolaus decreased their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.29.

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.

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