Legato Capital Management LLC Makes New Investment in Baker Hughes Company $BKR

Legato Capital Management LLC bought a new position in Baker Hughes Company (NASDAQ:BKR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 44,605 shares of the company’s stock, valued at approximately $2,031,000.

Other large investors have also added to or reduced their stakes in the company. Resolute Wealth Strategies LLC raised its position in shares of Baker Hughes by 11.0% in the 4th quarter. Resolute Wealth Strategies LLC now owns 6,425 shares of the company’s stock valued at $293,000 after purchasing an additional 635 shares during the last quarter. Global Retirement Partners LLC grew its position in Baker Hughes by 36.8% during the 4th quarter. Global Retirement Partners LLC now owns 11,819 shares of the company’s stock worth $538,000 after purchasing an additional 3,177 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in Baker Hughes during the 4th quarter worth approximately $6,354,000. Leonteq Securities AG purchased a new stake in Baker Hughes during the 4th quarter worth approximately $1,255,000. Finally, ABN Amro Investment Solutions grew its position in Baker Hughes by 21.9% during the 4th quarter. ABN Amro Investment Solutions now owns 168,983 shares of the company’s stock worth $7,695,000 after purchasing an additional 30,362 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $66.06 on Friday. The business’s 50 day moving average price is $62.80 and its 200 day moving average price is $56.18. The firm has a market cap of $65.54 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.35 and a beta of 0.97. Baker Hughes Company has a 52 week low of $36.03 and a 52 week high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.71 billion. Baker Hughes had a return on equity of 14.17% and a net margin of 11.17%.Baker Hughes’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. On average, sell-side analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were given a $0.23 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. Baker Hughes’s dividend payout ratio is currently 29.39%.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total value of $16,025,801.26. Following the sale, the chief executive officer owned 866,444 shares in the company, valued at approximately $50,938,242.76. This represents a 23.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Maria Georgia Magno sold 5,063 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the sale, the insider owned 15,555 shares in the company, valued at approximately $918,367.20. This represents a 24.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 550,250 shares of company stock worth $32,988,331. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BKR has been the topic of several research analyst reports. Capital One Financial boosted their target price on shares of Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Johnson Rice initiated coverage on shares of Baker Hughes in a research report on Wednesday, February 25th. They set a “buy” rating and a $68.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, BMO Capital Markets boosted their target price on shares of Baker Hughes from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Eighteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus price target of $69.41.

Baker Hughes Profile

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.