MUFG Securities EMEA plc Boosts Stake in Baker Hughes Company $BKR

MUFG Securities EMEA plc raised its position in shares of Baker Hughes Company (NASDAQ:BKR) by 283.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,375,463 shares of the company’s stock after buying an additional 1,756,593 shares during the quarter. Baker Hughes comprises approximately 1.3% of MUFG Securities EMEA plc’s holdings, making the stock its 16th largest position. MUFG Securities EMEA plc’s holdings in Baker Hughes were worth $108,179,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Baker Hughes by 0.5% during the third quarter. Vanguard Group Inc. now owns 123,890,075 shares of the company’s stock valued at $6,035,924,000 after acquiring an additional 598,159 shares during the period. Capital World Investors grew its position in Baker Hughes by 7.1% during the third quarter. Capital World Investors now owns 47,546,388 shares of the company’s stock valued at $2,316,462,000 after acquiring an additional 3,153,709 shares during the period. Geode Capital Management LLC grew its position in Baker Hughes by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 26,213,363 shares of the company’s stock valued at $1,189,194,000 after acquiring an additional 204,534 shares during the period. Capital Research Global Investors grew its position in Baker Hughes by 7.1% during the third quarter. Capital Research Global Investors now owns 25,903,241 shares of the company’s stock valued at $1,262,033,000 after acquiring an additional 1,728,016 shares during the period. Finally, Norges Bank purchased a new stake in Baker Hughes during the fourth quarter valued at about $1,022,491,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. HSBC boosted their price target on Baker Hughes from $67.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Royal Bank Of Canada boosted their price objective on Baker Hughes from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Argus boosted their price objective on Baker Hughes from $67.00 to $79.00 in a research note on Friday, May 1st. Evercore restated an “outperform” rating and set a $76.00 price objective on shares of Baker Hughes in a research note on Monday, April 27th. Finally, BMO Capital Markets boosted their price objective on Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $69.41.

Insider Activity

In related news, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the sale, the insider directly owned 15,555 shares of the company’s stock, valued at $918,367.20. The trade was a 24.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total value of $16,025,801.26. Following the completion of the sale, the chief executive officer directly owned 866,444 shares of the company’s stock, valued at approximately $50,938,242.76. This represents a 23.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 550,250 shares of company stock valued at $32,988,331. 0.19% of the stock is owned by corporate insiders.

Baker Hughes Stock Down 1.3%

Shares of NASDAQ BKR opened at $63.88 on Friday. Baker Hughes Company has a 1 year low of $36.53 and a 1 year high of $70.41. The firm has a market cap of $63.37 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.27 and a beta of 0.97. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.77 and a current ratio of 2.13. The stock’s 50-day simple moving average is $63.69 and its 200-day simple moving average is $56.79.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.Baker Hughes’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 earnings per share. As a group, equities analysts anticipate that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s payout ratio is currently 29.39%.

Baker Hughes Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.