Healthcare of Ontario Pension Plan Trust Fund Makes New $6.59 Million Investment in Baker Hughes (NASDAQ:BKR)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Baker Hughes (NASDAQ:BKR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 187,420 shares of the company’s stock, valued at approximately $6,592,000.

A number of other institutional investors have also added to or reduced their stakes in BKR. Price T Rowe Associates Inc. MD raised its holdings in Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after purchasing an additional 4,207,973 shares in the last quarter. Cardano Risk Management B.V. bought a new position in Baker Hughes in the first quarter worth $117,083,000. Goldman Sachs Group Inc. raised its holdings in Baker Hughes by 47.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock worth $192,634,000 after purchasing an additional 1,822,487 shares in the last quarter. Legal & General Group Plc raised its holdings in Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Baker Hughes Trading Up 1.0 %

Shares of NASDAQ:BKR opened at $37.93 on Friday. The stock has a market capitalization of $37.85 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 0.59 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The stock’s 50-day simple moving average is $35.31 and its two-hundred day simple moving average is $34.02. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.08. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. Analysts expect that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were given a $0.21 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.84 annualized dividend and a yield of 2.21%. Baker Hughes’s payout ratio is 46.93%.

Wall Street Analyst Weigh In

BKR has been the subject of several analyst reports. Evercore ISI raised their price target on Baker Hughes from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, July 29th. The Goldman Sachs Group raised their price target on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Benchmark restated a “buy” rating and set a $40.00 price target on shares of Baker Hughes in a report on Friday, July 26th. Jefferies Financial Group raised their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Citigroup reduced their price target on Baker Hughes from $44.00 to $42.00 and set a “buy” rating for the company in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $43.56.

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.