Allianz Asset Management GmbH Trims Position in Badger Meter, Inc. (NYSE:BMI)

Allianz Asset Management GmbH cut its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 205,898 shares of the scientific and technical instruments company's stock after selling 6,126 shares during the period. Allianz Asset Management GmbH owned about 0.70% of Badger Meter worth $39,172,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMI. Evergreen Capital Management LLC lifted its holdings in Badger Meter by 1.8% during the fourth quarter. Evergreen Capital Management LLC now owns 2,780 shares of the scientific and technical instruments company's stock worth $590,000 after acquiring an additional 48 shares in the last quarter. Values First Advisors Inc. grew its position in shares of Badger Meter by 0.6% in the first quarter. Values First Advisors Inc. now owns 8,739 shares of the scientific and technical instruments company's stock valued at $1,663,000 after purchasing an additional 53 shares during the last quarter. Cim LLC grew its position in shares of Badger Meter by 0.8% in the fourth quarter. Cim LLC now owns 9,747 shares of the scientific and technical instruments company's stock valued at $2,068,000 after purchasing an additional 78 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Badger Meter by 7.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,221 shares of the scientific and technical instruments company's stock valued at $259,000 after purchasing an additional 81 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Badger Meter by 0.4% during the fourth quarter. Wellington Management Group LLP now owns 20,140 shares of the scientific and technical instruments company's stock worth $4,272,000 after buying an additional 84 shares in the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BMI shares. Stifel Nicolaus set a $233.00 price target on Badger Meter and gave the stock a "hold" rating in a research report on Monday. Robert W. Baird upped their target price on Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research note on Wednesday. Raymond James Financial started coverage on Badger Meter in a research note on Tuesday, June 3rd. They set a "market perform" rating for the company. Royal Bank Of Canada cut their target price on Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Argus set a $240.00 price target on Badger Meter in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $240.20.

Badger Meter Trading Down 1.1%

BMI stock traded down $2.02 during midday trading on Thursday, hitting $189.99. The company had a trading volume of 714,764 shares, compared to its average volume of 321,496. The stock's 50 day moving average price is $242.55 and its 200 day moving average price is $219.61. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 2.73 and a beta of 0.83.

Badger Meter (NYSE:BMI - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.02). Badger Meter had a return on equity of 21.57% and a net margin of 15.53%. The firm had revenue of $238.10 million during the quarter, compared to analysts' expectations of $235.38 million. During the same period last year, the firm posted $1.12 earnings per share. The firm's quarterly revenue was up 9.9% on a year-over-year basis. Analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, May 23rd. Badger Meter's dividend payout ratio is currently 29.63%.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.