Lansforsakringar Fondforvaltning AB publ Boosts Stake in Baker Hughes Company $BKR

Lansforsakringar Fondforvaltning AB publ grew its position in shares of Baker Hughes Company (NASDAQ:BKR) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 315,410 shares of the company’s stock after acquiring an additional 15,175 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Baker Hughes were worth $15,367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Stevens Capital Management LP acquired a new stake in Baker Hughes during the 3rd quarter worth approximately $593,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Baker Hughes by 13.1% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 112,630 shares of the company’s stock valued at $5,487,000 after buying an additional 13,038 shares in the last quarter. AMG National Trust Bank grew its stake in Baker Hughes by 3.7% during the third quarter. AMG National Trust Bank now owns 6,831 shares of the company’s stock worth $333,000 after buying an additional 246 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Baker Hughes by 15.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 26,026 shares of the company’s stock worth $1,268,000 after acquiring an additional 3,531 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd raised its stake in shares of Baker Hughes by 21.9% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 15,140 shares of the company’s stock valued at $738,000 after acquiring an additional 2,724 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $62.21 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $61.48 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.67 and a beta of 0.89. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $62.75. The business has a 50 day simple moving average of $52.57 and a 200-day simple moving average of $48.94.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Monday, January 26th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Baker Hughes had a net margin of 9.33% and a return on equity of 14.26%. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, February 17th. Baker Hughes’s payout ratio is presently 35.38%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BKR shares. Susquehanna increased their price target on Baker Hughes from $58.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, January 27th. UBS Group raised their target price on Baker Hughes from $54.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Citigroup boosted their target price on shares of Baker Hughes from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Zephirin Group raised their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the company a “hold” rating in a report on Monday, January 26th. Finally, Barclays lifted their price objective on Baker Hughes from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 27th. Nineteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.00.

Insider Transactions at Baker Hughes

In other Baker Hughes news, CAO Rebecca L. Charlton sold 843 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $56.34, for a total value of $47,494.62. Following the sale, the chief accounting officer directly owned 14,019 shares of the company’s stock, valued at $789,830.46. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William G. Beattie sold 18,023 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $57.29, for a total value of $1,032,537.67. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 40,001 shares of company stock worth $2,322,692. 0.27% of the stock is currently owned by company insiders.

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.