Alps Advisors Inc. Purchases 3,090 Shares of Badger Meter, Inc. (NYSE:BMI)

Alps Advisors Inc. grew its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,870 shares of the scientific and technical instruments company's stock after purchasing an additional 3,090 shares during the period. Alps Advisors Inc. owned about 0.15% of Badger Meter worth $8,156,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BMI. Brighton Jones LLC bought a new stake in Badger Meter during the fourth quarter worth about $227,000. Atria Investments Inc lifted its stake in Badger Meter by 6.2% during the fourth quarter. Atria Investments Inc now owns 2,698 shares of the scientific and technical instruments company's stock worth $572,000 after purchasing an additional 158 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Badger Meter during the fourth quarter worth about $20,586,000. PNC Financial Services Group Inc. lifted its stake in shares of Badger Meter by 8.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 17,802 shares of the scientific and technical instruments company's stock valued at $3,776,000 after acquiring an additional 1,349 shares during the last quarter. Finally, Amundi boosted its holdings in Badger Meter by 9.0% during the 4th quarter. Amundi now owns 195,423 shares of the scientific and technical instruments company's stock valued at $41,931,000 after acquiring an additional 16,067 shares during the period. Institutional investors own 89.01% of the company's stock.

Badger Meter Stock Performance

Shares of BMI stock opened at $239.65 on Friday. The firm has a market cap of $7.06 billion, a P/E ratio of 52.79, a P/E/G ratio of 3.43 and a beta of 0.83. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $256.08. The business's 50 day moving average price is $242.61 and its 200-day moving average price is $218.56.

Badger Meter (NYSE:BMI - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.22. The firm had revenue of $222.21 million for the quarter, compared to analyst estimates of $220.39 million. Badger Meter had a return on equity of 22.35% and a net margin of 15.74%. During the same period last year, the company earned $0.99 EPS. As a group, equities analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 annualized dividend and a dividend yield of 0.57%. Badger Meter's dividend payout ratio is presently 29.96%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BMI shares. Royal Bank Of Canada lifted their price target on Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Argus set a $240.00 price target on Badger Meter in a research note on Thursday, April 24th. Stifel Nicolaus lifted their price target on Badger Meter from $200.00 to $230.00 and gave the stock a "hold" rating in a research note on Monday, June 16th. Robert W. Baird decreased their price target on Badger Meter from $218.00 to $216.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, Raymond James Financial started coverage on Badger Meter in a research note on Tuesday, June 3rd. They issued a "market perform" rating on the stock. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $236.60.

Badger Meter Company Profile

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.

Want to see what other hedge funds are holding BMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Badger Meter, Inc. (NYSE:BMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.