Nissay Asset Management Corp Japan ADV Increases Holdings in Baker Hughes (NASDAQ:BKR)

Nissay Asset Management Corp Japan ADV increased its stake in Baker Hughes (NASDAQ:BKR) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 372,304 shares of the company’s stock after purchasing an additional 22,183 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Baker Hughes were worth $15,190,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BKR. Norges Bank purchased a new position in Baker Hughes during the fourth quarter worth about $829,092,000. Raymond James Financial Inc. purchased a new position in Baker Hughes during the fourth quarter worth about $291,289,000. Neuberger Berman Group LLC grew its position in Baker Hughes by 2,527.6% during the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company’s stock worth $136,158,000 after buying an additional 3,193,089 shares in the last quarter. Congress Asset Management Co. purchased a new position in Baker Hughes during the fourth quarter worth about $107,155,000. Finally, FMR LLC grew its position in Baker Hughes by 12.5% during the fourth quarter. FMR LLC now owns 15,702,057 shares of the company’s stock worth $644,098,000 after buying an additional 1,744,225 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Trading Down 0.9%

NASDAQ BKR opened at $37.84 on Thursday. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $39.45 and a 200-day moving average of $42.01. The firm has a market cap of $37.49 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

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

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.43%. Baker Hughes’s dividend payout ratio is presently 31.40%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BKR. TD Cowen reduced their target price on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Benchmark reaffirmed a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a research note on Tuesday, February 11th. Stifel Nicolaus set a $50.00 price target on Baker Hughes and gave the stock a “buy” rating in a research note on Thursday, April 24th. Susquehanna dropped their price target on Baker Hughes from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Thursday, April 24th. Finally, TD Securities dropped their price target on Baker Hughes from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.