Public Sector Pension Investment Board buys $218.5 Million stake in Baker Hughes Incorporated (BHI)

Baker Hughes Incorporated (BHI) : Public Sector Pension Investment Board scooped up 284,500 additional shares in Baker Hughes Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 4,895,865 shares of Baker Hughes Incorporated which is valued at $218.5 Million.Baker Hughes Incorporated makes up approximately 2.57% of Public Sector Pension Investment Board’s portfolio.

Other Hedge Funds, Including , Connor Clark Lunn Investment Management Ltd. boosted its stake in BHI in the latest quarter, The investment management firm added 2,600 additional shares and now holds a total of 48,050 shares of Baker Hughes Incorporated which is valued at $2.1 Million. Baker Hughes Incorporated makes up approx 0.02% of Connor Clark Lunn Investment Management Ltd.’s portfolio. Huntington Asset Advisors sold out all of its stake in BHI during the most recent quarter. The investment firm sold 170 shares of BHI which is valued $7,587. Heartland Advisors Inc sold out all of its stake in BHI during the most recent quarter. The investment firm sold 30,805 shares of BHI which is valued $1.4 Million.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in BHI in the latest quarter, The investment management firm added 3,928 additional shares and now holds a total of 60,798 shares of Baker Hughes Incorporated which is valued at $2.8 Million. Baker Hughes Incorporated makes up approx 0.08% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.

Baker Hughes Incorporated opened for trading at $44.31 and hit $45.83 on the upside on Wednesday, eventually ending the session at $45.55, with a gain of 3.62% or 1.59 points. The heightened volatility saw the trading volume jump to 39,83,259 shares. Company has a market cap of $19,947 M.

On the company’s financial health, Baker Hughes Incorporated reported $-1.58 EPS for the quarter, missing the analyst consensus estimate by $ -1.25 based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus of $-0.33. The company had revenue of $2670.00 million for the quarter, compared to analysts expectations of $2829.83 million. The company’s revenue was down -41.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.07 EPS.

Investors should note that on Apr 18, 2016, Baker Hughes Incorporated announced a cash dividend of $0.1700. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 22, 2016.

Many Wall Street Analysts have commented on Baker Hughes Incorporated. Baker Hughes Incorporated was Resumed by Goldman to “Neutral” on May 9, 2016. Shares were Reiterated by Deutsche Bank on May 2, 2016 to “Hold” and Lowered the Price Target to $ 40 from a previous price target of $44 .Company shares were Reiterated by UBS on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .

Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services products technology and systems to the around the world oil and natural gas industry. The Company also provides industrial products and services to the downstream chemicals and process and pipeline services. It conducts its operations through subsidiaries affiliates ventures and alliances. The Company has four geographical operating segments: North America Latin America Europe/Africa/Russia Caspian and Middle East/Asia Pacific. The Company also has an Industrial Services segment which includes the downstream chemicals business and the process and pipeline services business. The Company’s Integrated Operations is focused on the execution of projects that have attributes such as project management well site supervision well construction intervention third-party contractor management procurement and rig management.

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