2 weeks Ago By ABMN Staff
Envestnet Asset Management Inc. increased its position in shares of Baker Hughes ( NASDAQ:BKR – Free Report ) by 31.2% in the 4th quarter, HoldingsChannel reports.
The fund owned 604,433 shares of the company’s stock after acquiring an additional 143,797 shares during the period. Envestnet Asset Management Inc.’s holdings in Baker Hughes were worth $24,794,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in BKR. Norges Bank acquired a new position in Baker Hughes during the 4th quarter valued at approximately $829,092,000. Raymond James Financial Inc.
acquired a new stake in Baker Hughes during the 4th quarter worth about $291,289,000. Congress Asset Management Co. purchased a new stake in Baker Hughes during the 4th quarter valued at about $107,155,000.
Natixis Advisors LLC raised its stake in shares of Baker Hughes by 217.5% in the fourth quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock worth $70,901,000 after purchasing an additional 1,184,036 shares during the last quarter.
Finally, Aviva PLC lifted its holdings in shares of Baker Hughes by 1,461.6% during the fourth quarter. Aviva PLC now owns 598,714 shares of the company’s stock worth $24,559,000 after purchasing an additional 560,374 shares during the period.
Institutional investors and hedge funds own 92.06% of the company’s stock. Insider Activity In other news, EVP Maria C.
Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.
00. Following the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54.
This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink .
Corporate insiders own 0.25% of the company’s stock. Baker Hughes Trading Up 3.
5 % Baker Hughes ( NASDAQ:BKR – Get Free Report ) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.
63 by $0.07. Baker Hughes had a return on equity of 14.
58% and a net margin of 10.70%. Analysts predict that Baker Hughes will post 2.
59 EPS for the current fiscal year. Baker Hughes Increases Dividend The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were issued a $0.
23 dividend. This represents a $0.92 annualized dividend and a yield of 2.
43%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21.
The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s payout ratio is presently 30.87%.
Wall Street Analyst Weigh In A number of research analysts recently issued reports on the stock. Citigroup decreased their target price on shares of Baker Hughes from $54.00 to $53.
00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group lifted their target price on shares of Baker Hughes from $51.00 to $52.
00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Stifel Nicolaus increased their price target on shares of Baker Hughes from $48.00 to $54.
00 and gave the stock a “buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Baker Hughes from $50.
00 to $52.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company increased their target price on shares of Baker Hughes from $49.
00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock.
According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.18.
Get Our Latest Report on BKR Baker Hughes Company Profile ( Free Report ) 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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