Nordea Investment Management AB Boosts Stock Position in Baker Hughes (NASDAQ:BKR)

Nordea Investment Management AB increased its position in Baker Hughes (NASDAQ:BKR) by 4.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,810,915 shares of the company’s stock after buying an additional 83,266 shares during the period. Nordea Investment Management AB owned about 0.18% of Baker Hughes worth $74,592,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BKR. National Pension Service grew its holdings in shares of Baker Hughes by 6.4% in the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after purchasing an additional 81,625 shares in the last quarter. Hixon Zuercher LLC bought a new stake in shares of Baker Hughes during the 3rd quarter worth approximately $1,980,000. Banque Cantonale Vaudoise boosted its holdings in Baker Hughes by 76.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock valued at $4,434,000 after acquiring an additional 53,006 shares during the period. AQR Capital Management LLC grew its position in Baker Hughes by 7.6% in the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after acquiring an additional 455,307 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in Baker Hughes by 60.3% in the third quarter. National Bank of Canada FI now owns 1,270,165 shares of the company’s stock worth $45,916,000 after purchasing an additional 478,009 shares during the period. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of research analyst reports. Barclays upped their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Morgan Stanley upped their target price on shares of Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. BMO Capital Markets lifted their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Jefferies Financial Group increased their price objective on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Piper Sandler assumed coverage on Baker Hughes in a research report on Thursday, December 19th. They set an “overweight” rating and a $53.00 target price for the company. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.12.

Baker Hughes Stock Up 1.3 %

Shares of BKR opened at $43.40 on Wednesday. The stock has a fifty day simple moving average of $41.94 and a two-hundred day simple moving average of $37.81. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $42.95 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same period in the previous year, the business posted $0.42 EPS. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. As a group, equities analysts forecast that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.94%. Baker Hughes’s dividend payout ratio is currently 37.67%.

About Baker Hughes

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.