Poplar Forest Capital LLC Has $41.15 Million Stake in Baker Hughes A GE Co (BHGE)
Poplar Forest Capital LLC lifted its holdings in shares of Baker Hughes A GE Co (NYSE:BHGE) by 57.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,913,869 shares of the company’s stock after buying an additional 697,469 shares during the period. Baker Hughes A GE makes up about 3.0% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 18th largest holding. Poplar Forest Capital LLC owned about 0.46% of Baker Hughes A GE worth $41,148,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of BHGE. Capital International Investors lifted its position in Baker Hughes A GE by 1,249.7% in the third quarter. Capital International Investors now owns 16,163,579 shares of the company’s stock worth $546,814,000 after purchasing an additional 14,965,979 shares during the period. Mackenzie Financial Corp lifted its position in Baker Hughes A GE by 133.7% in the fourth quarter. Mackenzie Financial Corp now owns 5,303,247 shares of the company’s stock worth $114,020,000 after purchasing an additional 3,034,031 shares during the period. Point72 Asset Management L.P. acquired a new stake in Baker Hughes A GE in the third quarter worth approximately $80,306,000. Dodge & Cox lifted its position in Baker Hughes A GE by 4.2% in the third quarter. Dodge & Cox now owns 39,653,536 shares of the company’s stock worth $1,341,479,000 after purchasing an additional 1,606,897 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in Baker Hughes A GE by 2,479.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,191,960 shares of the company’s stock worth $55,000 after purchasing an additional 1,145,748 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.
NYSE BHGE opened at $25.83 on Friday. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 39.14, a P/E/G ratio of 0.50 and a beta of 0.88. Baker Hughes A GE Co has a 1 year low of $20.09 and a 1 year high of $37.76. The company has a current ratio of 1.66, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18.
The business also recently declared a quarterly dividend, which was paid on Friday, February 15th. Shareholders of record on Monday, February 4th were issued a $0.18 dividend. The ex-dividend date was Friday, February 1st. This represents a $0.72 annualized dividend and a dividend yield of 2.79%. Baker Hughes A GE’s dividend payout ratio is currently 109.09%.
In other Baker Hughes A GE news, Director Electric Co General sold 101,200,000 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $22.47, for a total transaction of $2,273,964,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider William D. Marsh sold 1,242 shares of the business’s stock in a transaction on Friday, January 25th. The shares were sold at an average price of $23.31, for a total transaction of $28,951.02. Following the sale, the insider now directly owns 35,257 shares in the company, valued at $821,840.67. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.
A number of research firms have weighed in on BHGE. Jefferies Financial Group downgraded Baker Hughes A GE from a “buy” rating to a “hold” rating and cut their target price for the stock from $38.00 to $36.00 in a research report on Wednesday, October 31st. Guggenheim upgraded Baker Hughes A GE from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Wednesday, October 31st. Wells Fargo & Co restated a “buy” rating on shares of Baker Hughes A GE in a research report on Tuesday, October 30th. Credit Suisse Group cut their target price on Baker Hughes A GE from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Wednesday, October 31st. Finally, UBS Group cut their target price on Baker Hughes A GE from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $35.87.
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Baker Hughes A GE Company Profile
Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas, and oilfield service companies.
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