Janney Montgomery Scott LLC bought a new position in Badger Meter, Inc. (NYSE:BMI – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,723 shares of the scientific and technical instruments company’s stock, valued at approximately $402,000.
Other institutional investors have also recently modified their holdings of the company. Monument Capital Management bought a new position in shares of Badger Meter during the second quarter valued at $2,208,000. Raymond James & Associates lifted its holdings in shares of Badger Meter by 45.1% during the second quarter. Raymond James & Associates now owns 11,050 shares of the scientific and technical instruments company’s stock valued at $1,631,000 after purchasing an additional 3,437 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Badger Meter by 4.3% during the first quarter. Impax Asset Management Group plc now owns 1,045,682 shares of the scientific and technical instruments company’s stock valued at $126,737,000 after purchasing an additional 42,700 shares in the last quarter. Intercontinental Wealth Advisors LLC lifted its holdings in shares of Badger Meter by 3.6% during the second quarter. Intercontinental Wealth Advisors LLC now owns 6,017 shares of the scientific and technical instruments company’s stock valued at $888,000 after purchasing an additional 211 shares in the last quarter. Finally, Pictet Asset Management SA lifted its holdings in shares of Badger Meter by 10.1% during the first quarter. Pictet Asset Management SA now owns 3,389 shares of the scientific and technical instruments company’s stock valued at $413,000 after purchasing an additional 310 shares in the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.
Badger Meter Stock Up 0.7 %
NYSE BMI opened at $138.58 on Wednesday. The stock’s 50-day moving average price is $150.78 and its 200-day moving average price is $148.36. Badger Meter, Inc. has a 52 week low of $103.93 and a 52 week high of $170.86. The company has a market capitalization of $4.07 billion, a P/E ratio of 47.79, a price-to-earnings-growth ratio of 2.25 and a beta of 0.90.
Badger Meter Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $1.08 annualized dividend and a dividend yield of 0.78%. This is a boost from Badger Meter’s previous quarterly dividend of $0.23. Badger Meter’s dividend payout ratio (DPR) is currently 37.24%.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on BMI shares. Maxim Group upped their price target on Badger Meter from $152.00 to $180.00 and gave the company a “buy” rating in a report on Friday, July 21st. StockNews.com raised Badger Meter from a “hold” rating to a “buy” rating in a report on Tuesday, October 24th. Robert W. Baird increased their target price on Badger Meter from $125.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Stifel Nicolaus reissued a “hold” rating and issued a $142.00 target price on shares of Badger Meter in a report on Tuesday, September 12th. Finally, Northcoast Research downgraded 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. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Badger Meter presently has an average rating of “Hold” and a consensus target price of $146.67.
Get Our Latest Stock Report on BMI
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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