Scotia Capital Inc. Buys 1,852 Shares of Baker Hughes (NASDAQ:BKR)

Scotia Capital Inc. raised its position in Baker Hughes (NASDAQ:BKR) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,191 shares of the company’s stock after acquiring an additional 1,852 shares during the period. Scotia Capital Inc.’s holdings in Baker Hughes were worth $1,238,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Morse Asset Management Inc acquired a new stake in Baker Hughes during the third quarter valued at approximately $1,263,000. Wellington Management Group LLP boosted its holdings in Baker Hughes by 4.1% in the third quarter. Wellington Management Group LLP now owns 408,310 shares of the company’s stock valued at $14,760,000 after acquiring an additional 16,025 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Baker Hughes by 4.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 33,758 shares of the company’s stock valued at $1,220,000 after purchasing an additional 1,549 shares during the last quarter. MML Investors Services LLC boosted its stake in Baker Hughes by 14.6% in the third quarter. MML Investors Services LLC now owns 17,340 shares of the company’s stock valued at $627,000 after acquiring an additional 2,214 shares during the last quarter. Finally, M&T Bank Corp boosted its position 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 worth $1,738,000 after purchasing an additional 3,229 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BKR. Royal Bank of Canada lifted their price objective 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. Benchmark reiterated a “buy” rating and set a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Citigroup decreased their target price on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Susquehanna boosted their price target on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday, February 3rd. Finally, Evercore ISI boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.18.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at $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 available at this hyperlink. 0.25% of the stock is owned by insiders.

Baker Hughes Trading Up 3.5 %

Shares of BKR stock opened at $37.93 on Monday. The stock has a market cap of $37.55 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. 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 simple moving average of $43.23 and a 200 day simple moving average of $42.07. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating 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%. On average, research analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.43%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. 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.