Foundry Partners LLC Takes Position in Baker Hughes (NASDAQ:BKR)

Foundry Partners LLC bought a new position in shares of Baker Hughes (NASDAQ:BKR) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 206,140 shares of the company’s stock, valued at approximately $8,456,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKR. JFS Wealth Advisors LLC boosted its stake in shares of Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after buying an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Baker Hughes in the fourth quarter valued at approximately $30,000. Larson Financial Group LLC boosted its position in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares in the last quarter. Continuum Advisory LLC grew its stake in shares of Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares during the period. Finally, Kestra Investment Management LLC purchased a new position in shares of Baker Hughes during the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other Baker Hughes 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 in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by insiders.

Baker Hughes Price Performance

Baker Hughes stock opened at $40.86 on Friday. 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 company has a 50-day moving average price of $44.60 and a 200 day moving average price of $41.96. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The stock has a market cap of $40.46 billion, a P/E ratio of 13.71, a PEG ratio of 2.00 and a beta of 1.08.

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

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Cowen cut their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus increased their price target on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. The Goldman Sachs Group boosted their price objective on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. 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 report on Monday, February 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

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.