Congress Wealth Management LLC DE Buys Shares of 336,511 Baker Hughes (NASDAQ:BKR)

Congress Wealth Management LLC DE purchased a new position in Baker Hughes (NASDAQ:BKR) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 336,511 shares of the company’s stock, valued at approximately $13,804,000.

A number of other institutional investors also recently made changes to their positions in the stock. Strategic Financial Concepts LLC bought a new stake in Baker Hughes during the fourth quarter worth approximately $640,000. Burney Co. increased its position in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after purchasing an additional 105,349 shares during the period. Northstar Advisory Group LLC bought a new stake in shares of Baker Hughes in the 4th quarter worth $1,180,000. Artemis Investment Management LLP lifted its holdings in shares of Baker Hughes by 29.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after buying an additional 239,773 shares during the period. Finally, Czech National Bank boosted its stake in Baker Hughes by 6.0% during the fourth quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after buying an additional 12,178 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

Shares of BKR opened at $44.60 on Tuesday. The company has a market capitalization of $44.16 billion, a PE ratio of 14.97, a PEG ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The company’s 50 day moving average price is $44.96 and its 200 day moving average price is $41.50. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its quarterly 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%. Research analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.06%. Baker Hughes’s dividend payout ratio (DPR) is 30.87%.

Analysts Set New Price Targets

A number of brokerages have weighed in on BKR. Susquehanna upped their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a report on Monday, February 3rd. Benchmark restated a “buy” rating and set a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. TD Cowen dropped their price target on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Piper Sandler raised their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada boosted their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Company 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.