Vestmark Advisory Solutions Inc. Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Posted by Defense World Staff on Aug 18th, 2023

Vestmark Advisory Solutions Inc. grew its stake in shares of Baker Hughes (NASDAQ:BKR – Free Report) by 7.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,370 shares of the company’s stock after buying an additional 781 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Baker Hughes were worth $328,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in Baker Hughes by 220.4% in the 1st quarter. Pacer Advisors Inc. now owns 124,636 shares of the company’s stock worth $3,597,000 after purchasing an additional 85,735 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Baker Hughes by 12.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 5,664 shares of the company’s stock worth $167,000 after purchasing an additional 605 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Baker Hughes by 40.5% in the 4th quarter. Victory Capital Management Inc. now owns 801,576 shares of the company’s stock worth $25,143,000 after purchasing an additional 231,129 shares in the last quarter. Banque Pictet & Cie SA lifted its holdings in Baker Hughes by 16.4% in the 4th quarter. Banque Pictet & Cie SA now owns 84,071 shares of the company’s stock worth $2,483,000 after purchasing an additional 11,846 shares in the last quarter. Finally, Clarius Group LLC lifted its holdings in Baker Hughes by 34.1% in the 1st quarter. Clarius Group LLC now owns 11,259 shares of the company’s stock worth $325,000 after purchasing an additional 2,863 shares in the last quarter. 92.62% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 0.3 %

Shares of NASDAQ BKR opened at $34.87 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.28 and a quick ratio of 0.88. The stock has a market capitalization of $35.21 billion, a P/E ratio of 30.86 and a beta of 1.51. Baker Hughes has a 1-year low of $20.42 and a 1-year high of $36.48. The business has a fifty day moving average price of $33.32 and a 200 day moving average price of $30.77.

Baker Hughes (NASDAQ:BKR – Get Free Report) last issued its quarterly earnings data on Wednesday, July 19th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. The firm had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Baker Hughes had a return on equity of 9.01% and a net margin of 4.94%. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 EPS. Equities research analysts expect that Baker Hughes will post 1.53 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Tuesday, August 8th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, August 7th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 2.29%. Baker Hughes’s dividend payout ratio (DPR) is 70.80%.

Analyst Ratings Changes

BKR has been the topic of a number of research analyst reports. Barclays boosted their price target on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. Wells Fargo & Company upped their price objective on Baker Hughes from $32.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, July 20th. Capital One Financial started coverage on Baker Hughes in a report on Wednesday, June 7th. They set an “overweight” rating and a $38.00 price objective on the stock. Evercore ISI upped their price objective on Baker Hughes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, April 20th. Finally, Stifel Nicolaus upped their price objective on Baker Hughes from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, July 20th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.22.

View Our Latest Stock Analysis on BKR

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, insider Regina Jones sold 10,000 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $35.60, for a total value of $356,000.00. Following the completion of the sale, the insider now directly owns 72,873 shares in the company, valued at $2,594,278.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Lorenzo Simonelli sold 122,500 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $35.49, for a total value of $4,347,525.00. Following the transaction, the chief executive officer now directly owns 589,938 shares of the company’s stock, valued at $20,936,899.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Regina Jones sold 10,000 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $35.60, for a total value of $356,000.00. Following the completion of the transaction, the insider now directly owns 72,873 shares in the company, valued at $2,594,278.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,695 shares of company stock worth $5,154,051. 0.24% of the stock is owned by insiders.

Baker Hughes Company Profile

(Free Report)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). 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.