336,511 Shares in Baker Hughes (NASDAQ:BKR) Acquired by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE purchased a new stake in shares of Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 336,511 shares of the company’s stock, valued at approximately $13,804,000.

A number of other institutional investors also recently modified their holdings of BKR. Raymond James Financial Inc. bought a new stake in shares of Baker Hughes in the fourth quarter valued at approximately $291,289,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in Baker Hughes by 34.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares during the period. Congress Asset Management Co. acquired a new stake in Baker Hughes in the 4th quarter worth $107,155,000. Yaupon Capital Management LP bought a new position in shares of Baker Hughes during the 3rd quarter worth about $47,296,000. Finally, Natixis Advisors LLC increased its holdings in shares of Baker Hughes by 217.5% during the 4th quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock worth $70,901,000 after purchasing an additional 1,184,036 shares during the period. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. TD Cowen lowered their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Bank of America raised their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Susquehanna boosted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a report on Monday, February 3rd. Finally, Evercore ISI raised their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Baker Hughes Trading Up 1.1 %

Shares of BKR opened at $44.60 on Tuesday. The stock has a fifty day moving average price of $44.96 and a two-hundred day moving average price of $41.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The company has a market cap of $44.16 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 2.00 and a beta of 1.30. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is 30.87%.

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.