Robeco Institutional Asset Management B.V. Grows Position in Baker Hughes (NASDAQ:BKR)

Robeco Institutional Asset Management B.V. raised its holdings in Baker Hughes (NASDAQ:BKR) by 63.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,001,870 shares of the company’s stock after acquiring an additional 780,417 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Baker Hughes were worth $72,368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Baker Hughes by 8.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company’s stock worth $782,000 after acquiring an additional 1,829 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Baker Hughes by 23.5% in the first quarter. Commonwealth Equity Services LLC now owns 30,644 shares of the company’s stock valued at $1,027,000 after buying an additional 5,839 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Baker Hughes during the first quarter valued at $515,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Baker Hughes by 134.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 238,857 shares of the company’s stock valued at $8,002,000 after buying an additional 137,099 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Baker Hughes in the first quarter worth approximately $738,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insiders Place Their Bets

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total value of $4,000,010.00. Following the sale, the chief executive officer now directly owns 502,053 shares in the company, valued at $17,571,855. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BKR shares. Bank of America decreased their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Susquehanna increased their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their target price on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average target price of $44.12.

Baker Hughes Price Performance

NASDAQ:BKR opened at $38.17 on Tuesday. The company has a fifty day moving average price of $36.04 and a 200 day moving average price of $34.60. Baker Hughes has a one year low of $28.32 and a one year high of $39.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The stock has a market cap of $37.77 billion, a P/E ratio of 17.12, a PEG ratio of 0.65 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. During the same period in the prior year, the company posted $0.42 earnings per share. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. Analysts anticipate that Baker Hughes will post 2.28 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

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.