Wedge Capital Management L L P NC Buys 123,689 Shares of Baker Hughes (NASDAQ:BKR)

Wedge Capital Management L L P NC increased its position in Baker Hughes (NASDAQ:BKR) by 20.5% in the 2nd quarter, Holdings Channel reports. The firm owned 726,291 shares of the company’s stock after buying an additional 123,689 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Baker Hughes were worth $25,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Baker Hughes by 6.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock valued at $219,000 after acquiring an additional 398 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its position in shares of Baker Hughes by 6.9% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 7,205 shares of the company’s stock worth $253,000 after acquiring an additional 467 shares in the last quarter. Aspire Private Capital LLC grew its position in Baker Hughes by 9.3% in the fourth quarter. Aspire Private Capital LLC now owns 5,733 shares of the company’s stock valued at $196,000 after acquiring an additional 486 shares during the last quarter. Checchi Capital Advisers LLC increased its position in Baker Hughes by 6.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 8,151 shares of the company’s stock worth $273,000 after purchasing an additional 490 shares in the last quarter. Finally, Montag A & Associates Inc. lifted its stake in shares of Baker Hughes by 100.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BKR shares. Susquehanna lifted their target price on shares of Baker Hughes from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on Baker Hughes from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Insider Activity

In other news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at $2,945,120. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Lorenzo Simonelli sold 114,286 shares of Baker Hughes stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the transaction, the chief executive officer now directly owns 502,053 shares in the company, valued at approximately $17,571,855. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $32.00, for a total value of $1,791,360.00. Following the transaction, the executive vice president now owns 92,035 shares in the company, valued at approximately $2,945,120. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 284,552 shares of company stock valued at $10,197,095. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Price Performance

Shares of BKR stock traded up $0.33 during mid-day trading on Thursday, hitting $35.08. 6,022,767 shares of the stock were exchanged, compared to its average volume of 7,537,556. The company has a market cap of $35.01 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 0.61 and a beta of 1.41. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $39.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average of $34.63 and a 200 day moving average of $32.71.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 EPS. Research analysts anticipate that Baker Hughes will post 2.2 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Tuesday, August 6th. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

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.