DekaBank Deutsche Girozentrale acquired a new position in shares of Badger Meter, Inc. (NYSE:BMI – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 481 shares of the scientific and technical instruments company’s stock, valued at approximately $70,000.
Several other hedge funds and other institutional investors have also made changes to their positions in BMI. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Badger Meter during the second quarter worth approximately $86,907,000. Rockefeller Capital Management L.P. boosted its position in shares of Badger Meter by 434.2% during the first quarter. Rockefeller Capital Management L.P. now owns 372,468 shares of the scientific and technical instruments company’s stock worth $45,372,000 after buying an additional 302,742 shares during the period. Norges Bank bought a new stake in Badger Meter during the fourth quarter worth approximately $30,460,000. State Street Corp raised its holdings in Badger Meter by 10.6% during the second quarter. State Street Corp now owns 2,070,197 shares of the scientific and technical instruments company’s stock worth $167,458,000 after purchasing an additional 198,228 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Badger Meter by 129.1% during the second quarter. Goldman Sachs Group Inc. now owns 250,391 shares of the scientific and technical instruments company’s stock worth $20,254,000 after purchasing an additional 141,111 shares in the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
BMI has been the topic of several recent analyst reports. Northcoast Research cut Badger Meter from a “neutral” rating to a “sell” rating and set a $120.00 target price on the stock. in a report on Friday, September 29th. Maxim Group boosted their target price on Badger Meter from $152.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Robert W. Baird boosted their target price on Badger Meter from $125.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Deutsche Bank Aktiengesellschaft started coverage on Badger Meter in a report on Wednesday, June 28th. They set a “hold” rating and a $142.00 target price on the stock. Finally, StockNews.com cut Badger Meter from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $146.67.
Insider Activity
In related news, Director Todd A. Adams sold 2,627 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $162.64, for a total value of $427,255.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.
Badger Meter Stock Performance
NYSE BMI opened at $139.76 on Wednesday. Badger Meter, Inc. has a twelve month low of $95.80 and a twelve month high of $170.86. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 53.14, a PEG ratio of 3.32 and a beta of 0.90. The firm’s 50 day moving average price is $156.03 and its two-hundred day moving average price is $147.22.
Badger Meter (NYSE:BMI – Get Free Report) last posted its quarterly earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.67 by $0.09. Badger Meter had a net margin of 12.28% and a return on equity of 17.21%. The business had revenue of $175.90 million for the quarter, compared to analysts’ expectations of $156.32 million. During the same period in the previous year, the company posted $0.57 EPS. Badger Meter’s revenue was up 27.6% on a year-over-year basis. On average, research analysts forecast that Badger Meter, Inc. will post 2.86 EPS for the current fiscal year.
Badger Meter Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were issued a dividend of $0.27 per share. This is a boost from Badger Meter’s previous quarterly dividend of $0.23. This represents a $1.08 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 24th. Badger Meter’s payout ratio is currently 41.06%.
About Badger Meter
Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities.
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