Vaughan Nelson Investment Management L.P. Purchases New Stake in Baker Hughes Company $BKR

Vaughan Nelson Investment Management L.P. purchased a new stake in Baker Hughes Company (NASDAQ:BKR) in the 1st quarter, HoldingsChannel reports. The fund purchased 726,095 shares of the company’s stock, valued at approximately $44,328,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Woodline Partners LP grew its holdings in shares of Baker Hughes by 40.8% during the first quarter. Woodline Partners LP now owns 83,650 shares of the company’s stock valued at $3,676,000 after buying an additional 24,225 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Baker Hughes by 5.6% in the 1st quarter. Focus Partners Wealth now owns 18,481 shares of the company’s stock worth $812,000 after acquiring an additional 986 shares during the last quarter. Jump Financial LLC bought a new position in Baker Hughes in the 2nd quarter valued at about $2,301,000. NewEdge Advisors LLC lifted its position in Baker Hughes by 4.0% in the 2nd quarter. NewEdge Advisors LLC now owns 46,407 shares of the company’s stock valued at $1,779,000 after acquiring an additional 1,768 shares in the last quarter. Finally, Nebula Research & Development LLC acquired a new position in Baker Hughes during the 2nd quarter valued at about $1,014,000. Institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Susquehanna increased their price objective on Baker Hughes from $70.00 to $80.00 and gave the stock a “positive” rating in a research note on Monday, April 27th. Johnson Rice started coverage on Baker Hughes in a research report on Wednesday, February 25th. They set a “buy” rating and a $68.00 target price on the stock. Wall Street Zen downgraded Baker Hughes from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Stifel Nicolaus increased their price target on Baker Hughes from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Baker Hughes in a research note on Friday, April 24th. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.14.

Insider Buying and Selling at Baker Hughes

In other news, CAO Rebecca L. Charlton sold 5,088 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $64.22, for a total transaction of $326,751.36. Following the transaction, the chief accounting officer owned 15,997 shares of the company’s stock, valued at $1,027,327.34. This represents a 24.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lorenzo Simonelli sold 181,411 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $63.36, for a total value of $11,494,200.96. Following the transaction, the chief executive officer owned 784,944 shares of the company’s stock, valued at $49,734,051.84. The trade was a 18.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company’s stock.

Baker Hughes Stock Performance

NASDAQ BKR opened at $58.41 on Monday. Baker Hughes Company has a 52-week low of $37.38 and a 52-week high of $70.41. The company has a 50-day simple moving average of $64.02 and a 200 day simple moving average of $58.31. 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 company has a market capitalization of $57.95 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The firm had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, research analysts predict that Baker Hughes Company will post 2.28 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Baker Hughes’s dividend payout ratio (DPR) 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.