National Bank of Canada FI Purchases 464,620 Shares of Baker Hughes (NASDAQ:BKR)

National Bank of Canada FI boosted its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 126.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 830,755 shares of the company's stock after purchasing an additional 464,620 shares during the period. National Bank of Canada FI owned about 0.08% of Baker Hughes worth $28,188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC acquired a new position in Baker Hughes during the fourth quarter worth $33,000. OFI Invest Asset Management acquired a new position in shares of Baker Hughes during the 3rd quarter worth about $36,000. Rational Advisors LLC raised its holdings in shares of Baker Hughes by 44.0% in the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company's stock valued at $44,000 after purchasing an additional 382 shares during the period. Clearstead Advisors LLC lifted its stake in Baker Hughes by 38.2% in the 3rd quarter. Clearstead Advisors LLC now owns 1,523 shares of the company's stock valued at $54,000 after purchasing an additional 421 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Baker Hughes during the third quarter worth about $76,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Price Performance

BKR stock traded up $0.14 during midday trading on Tuesday, reaching $32.14. The company had a trading volume of 7,786,686 shares, compared to its average volume of 8,516,377. The company has a market capitalization of $32.08 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.55 and a beta of 1.44. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. Baker Hughes has a 1-year low of $26.96 and a 1-year high of $37.58. The stock has a 50 day moving average price of $32.44 and a 200-day moving average price of $32.36.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm posted $0.28 EPS. The firm's quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts expect that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.61%. Baker Hughes's dividend payout ratio is currently 46.93%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the business's stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares of the company's stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP James E. Apostolides sold 5,000 shares of the company's stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares of the company's stock, valued at $508,132.24. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

BKR has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Citigroup decreased their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a report on Friday, January 26th. Susquehanna restated a "positive" rating and set a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. Barclays decreased their price target on shares of Baker Hughes from $43.00 to $42.00 and set an "overweight" rating on the stock in a research note on Friday, January 26th. Finally, TD Cowen boosted their price objective on Baker Hughes from $46.00 to $49.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.94.

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.