Investment Management Corp of Ontario Has $3.99 Million Holdings in Baker Hughes (NASDAQ:BKR)

Investment Management Corp of Ontario boosted its stake in Baker Hughes (NASDAQ:BKR) by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,376 shares of the company’s stock after buying an additional 7,172 shares during the quarter. Investment Management Corp of Ontario’s holdings in Baker Hughes were worth $3,994,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. JFS Wealth Advisors LLC boosted its holdings in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Baker Hughes in the fourth quarter worth $30,000. Larson Financial Group LLC grew its holdings in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Baker Hughes in the fourth quarter valued at $45,000. Finally, OFI Invest Asset Management bought a new position in shares of Baker Hughes in the fourth quarter valued at about $47,000. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $36.49 on Friday. The company has a fifty day moving average price of $39.72 and a 200 day moving average price of $42.03. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The firm has a market cap of $36.15 billion, a PE ratio of 12.24, a PEG ratio of 2.00 and a beta of 0.96. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Research analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.52%. The ex-dividend date is Tuesday, May 6th. Baker Hughes’s payout ratio is 31.40%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Piper Sandler reduced their target price on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. TD Securities lowered their target price on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. TD Cowen cut their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Evercore ISI lowered their price objective on Baker Hughes from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company upped their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average price target of $49.11.

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.