Reinhart Partners LLC. Lowers Stake in Baker Hughes Company $BKR

Reinhart Partners LLC. lessened its holdings in Baker Hughes Company (NASDAQ:BKR) by 48.8% during the third quarter, Holdings Channel.com reports. The firm owned 109,195 shares of the company’s stock after selling 104,191 shares during the quarter. Reinhart Partners LLC.’s holdings in Baker Hughes were worth $5,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Forum Financial Management LP raised its stake in Baker Hughes by 1.4% during the second quarter. Forum Financial Management LP now owns 17,255 shares of the company’s stock valued at $662,000 after buying an additional 233 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Baker Hughes by 4.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,790 shares of the company’s stock valued at $260,000 after acquiring an additional 275 shares in the last quarter. CWM LLC raised its position in shares of Baker Hughes by 0.6% in the 3rd quarter. CWM LLC now owns 44,731 shares of the company’s stock worth $2,179,000 after purchasing an additional 287 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Baker Hughes by 1.4% in the 2nd quarter. V Square Quantitative Management LLC now owns 21,758 shares of the company’s stock worth $834,000 after purchasing an additional 292 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its stake in Baker Hughes by 5.9% in the 2nd quarter. Moody National Bank Trust Division now owns 5,351 shares of the company’s stock worth $205,000 after purchasing an additional 296 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BKR. Royal Bank Of Canada restated an “outperform” rating and set a $57.00 price objective on shares of Baker Hughes in a research note on Thursday. UBS Group boosted their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Stifel Nicolaus increased their target price on Baker Hughes from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Cowen restated a “buy” rating on shares of Baker Hughes in a research note on Wednesday, January 7th. Finally, Jefferies Financial Group increased their price objective on Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Twenty-three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.04.

Baker Hughes Price Performance

NASDAQ BKR opened at $51.78 on Friday. The stock has a market capitalization of $51.10 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.65 and a beta of 0.89. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $52.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.00. The business’s fifty day moving average price is $47.99 and its 200-day moving average price is $46.04.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. Baker Hughes’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities analysts predict that Baker Hughes Company will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s dividend payout ratio is 31.72%.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.