Vestmark Advisory Solutions Inc. Has $2.46 Million Stock Position in Baker Hughes Company $BKR

Vestmark Advisory Solutions Inc. cut its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 50.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,201 shares of the company’s stock after selling 64,621 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Baker Hughes were worth $2,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in Baker Hughes by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 621,468 shares of the company’s stock valued at $27,314,000 after buying an additional 17,035 shares during the period. Cerity Partners LLC raised its position in shares of Baker Hughes by 18.0% during the 1st quarter. Cerity Partners LLC now owns 183,509 shares of the company’s stock valued at $8,065,000 after acquiring an additional 27,929 shares during the last quarter. Xponance Inc. lifted its stake in shares of Baker Hughes by 3.9% in the 1st quarter. Xponance Inc. now owns 149,001 shares of the company’s stock valued at $6,549,000 after purchasing an additional 5,580 shares during the period. Fortem Financial Group LLC acquired a new position in shares of Baker Hughes in the 1st quarter valued at $251,000. Finally, Ballentine Partners LLC boosted its position in shares of Baker Hughes by 4.5% in the 1st quarter. Ballentine Partners LLC now owns 23,352 shares of the company’s stock worth $1,026,000 after purchasing an additional 1,002 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 1.2%

NASDAQ:BKR opened at $47.87 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The business’s 50-day simple moving average is $47.23 and its 200-day simple moving average is $42.47. Baker Hughes Company has a fifty-two week low of $33.60 and a fifty-two week high of $50.92. The stock has a market capitalization of $47.24 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.06 and a beta of 1.03.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Friday, November 18th. The company reported $0.16 earnings per share (EPS) for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The business had revenue of $5.09 billion during the quarter. Sell-side analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Tuesday, November 4th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Capital One Financial upped their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Piper Sandler boosted their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Royal Bank Of Canada upped their price target on Baker Hughes from $50.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Melius began coverage on shares of Baker Hughes in a research report on Wednesday, August 20th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Industrial Alliance Securities set a $53.00 price objective on shares of Baker Hughes in a report on Wednesday, July 30th. Twenty-three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.29.

Insiders Place Their Bets

In other Baker Hughes news, CAO Rebecca L. Charlton sold 1,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer owned 11,772 shares in the company, valued at approximately $588,600. This represents a 7.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sreeganesh Ramaswamy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the sale, the executive vice president owned 40,520 shares in the company, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.27% of the company’s stock.

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.