National Bank of Canada FI Purchases 478,009 Shares of Baker Hughes (NASDAQ:BKR)

National Bank of Canada FI raised its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 60.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,270,165 shares of the company's stock after buying an additional 478,009 shares during the period. National Bank of Canada FI owned about 0.13% of Baker Hughes worth $45,916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bridges Investment Management Inc. grew its position in shares of Baker Hughes by 3.1% in the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company's stock valued at $333,000 after purchasing an additional 273 shares during the last quarter. UMB Bank n.a. grew its position in shares of Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company's stock valued at $66,000 after purchasing an additional 291 shares during the last quarter. Graypoint LLC grew its position in Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company's stock worth $372,000 after buying an additional 301 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company's stock worth $1,079,000 after buying an additional 398 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in Baker Hughes by 4.6% during the third quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company's stock worth $326,000 after buying an additional 401 shares in the last quarter. Institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Up 0.3 %

BKR traded up $0.12 during midday trading on Monday, reaching $41.43. The company's stock had a trading volume of 7,336,789 shares, compared to its average volume of 7,147,771. The firm has a market capitalization of $41.00 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.70 and a beta of 1.40. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The stock's 50-day moving average is $40.07 and its 200-day moving average is $36.39.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.21 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. The business's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts expect that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's dividend payout ratio is currently 37.67%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BKR shares. Wells Fargo & Company raised Baker Hughes from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Royal Bank of Canada reissued an "outperform" rating and set a $43.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. UBS Group reduced their price target on Baker Hughes from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 18th. Stifel Nicolaus raised their target price on Baker Hughes from $45.00 to $48.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, Argus raised Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.76.

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.