Canada Post Corp Registered Pension Plan Takes $4.30 Million Position in Baker Hughes (NASDAQ:BKR)

Canada Post Corp Registered Pension Plan acquired a new stake in Baker Hughes (NASDAQ:BKR) in the fourth quarter, Holdings Channel.com reports. The firm acquired 104,753 shares of the company’s stock, valued at approximately $4,297,000.

Other hedge funds also recently bought and sold shares of the company. Morse Asset Management Inc bought a new position in Baker Hughes in the 3rd quarter valued at $1,263,000. Wellington Management Group LLP boosted its stake in Baker Hughes by 4.1% during the third quarter. Wellington Management Group LLP now owns 408,310 shares of the company’s stock valued at $14,760,000 after buying an additional 16,025 shares during the period. Orion Portfolio Solutions LLC grew its position in Baker Hughes by 4.8% during the third quarter. Orion Portfolio Solutions LLC now owns 33,758 shares of the company’s stock worth $1,220,000 after buying an additional 1,549 shares in the last quarter. MML Investors Services LLC increased its stake in Baker Hughes by 14.6% in the 3rd quarter. MML Investors Services LLC now owns 17,340 shares of the company’s stock worth $627,000 after acquiring an additional 2,214 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Baker Hughes by 7.2% in the 3rd quarter. M&T Bank Corp now owns 48,075 shares of the company’s stock valued at $1,738,000 after acquiring an additional 3,229 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 3.5 %

NASDAQ:BKR opened at $37.93 on Monday. The firm has a market capitalization of $37.55 billion, a P/E ratio of 12.73, a PEG ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company’s 50-day simple moving average is $43.23 and its 200 day simple moving average is $42.07.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is currently 30.87%.

Analysts Set New Price Targets

Several research analysts recently weighed in on BKR shares. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Susquehanna raised their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, February 3rd. TD Cowen cut their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Bank of America raised their price target on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.18.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.