Canada Pension Plan Investment Board Sells 52,312 Shares of Baker Hughes (NASDAQ:BKR)

Canada Pension Plan Investment Board reduced its position in shares of Baker Hughes (NASDAQ:BKR) by 21.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,386 shares of the company’s stock after selling 52,312 shares during the period. Canada Pension Plan Investment Board’s holdings in Baker Hughes were worth $7,769,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BKR. Dynasty Wealth Management LLC grew its stake in Baker Hughes by 2.7% in the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after buying an additional 207 shares in the last quarter. Larson Financial Group LLC grew its position in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after acquiring an additional 216 shares in the last quarter. Alpine Woods Capital Investors LLC increased its stake in Baker Hughes by 0.7% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after acquiring an additional 267 shares during the last quarter. Cromwell Holdings LLC raised its position in Baker Hughes by 9.3% during the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock valued at $130,000 after purchasing an additional 269 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in Baker Hughes by 1.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after purchasing an additional 295 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $37.80 on Tuesday. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The stock has a market capitalization of $37.43 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.00 and a beta of 1.08. The company’s 50-day moving average is $42.16 and its 200 day moving average is $42.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, sell-side analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.43%. Baker Hughes’s dividend payout ratio is currently 30.87%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BKR. TD Cowen decreased their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Evercore ISI boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Piper Sandler upped their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group lifted their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Citigroup cut their price target 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. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $50.65.

Baker Hughes Profile

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.