Janus Henderson Group PLC Lowers Stake in Baker Hughes (NASDAQ:BKR)

Janus Henderson Group PLC lessened its holdings in Baker Hughes (NASDAQ:BKR) by 28.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 461,694 shares of the company’s stock after selling 180,451 shares during the quarter. Janus Henderson Group PLC’s holdings in Baker Hughes were worth $18,939,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Baker Hughes in the 4th quarter worth approximately $829,092,000. Raymond James Financial Inc. purchased a new stake in Baker Hughes during the 4th quarter valued at $291,289,000. Neuberger Berman Group LLC boosted its stake in Baker Hughes by 2,527.6% during the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock valued at $136,158,000 after purchasing an additional 3,193,089 shares during the last quarter. Congress Asset Management Co. purchased a new stake in Baker Hughes during the 4th quarter valued at $107,155,000. Finally, FMR LLC boosted its stake in Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company’s stock valued at $644,098,000 after purchasing an additional 1,744,225 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

NASDAQ:BKR opened at $37.73 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business’s 50-day simple moving average is $39.39 and its two-hundred day simple moving average is $42.02. The stock has a market cap of $37.38 billion, a PE ratio of 12.66, a P/E/G ratio of 2.00 and a beta of 0.96. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40.

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

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.44%. Baker Hughes’s dividend payout ratio (DPR) is 31.40%.

Analyst Ratings Changes

Several analysts have commented on the company. Barclays cut their target price on Baker Hughes from $54.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Evercore ISI cut their target price on Baker Hughes from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group increased their target price on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Citigroup dropped their price target on Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, TD Securities dropped 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. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.11.

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.