Assenagon Asset Management S.A. Reduces Stock Holdings in Badger Meter, Inc. (NYSE:BMI)

Assenagon Asset Management S.A. lessened its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 24.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,825 shares of the scientific and technical instruments company's stock after selling 15,581 shares during the quarter. Assenagon Asset Management S.A. owned 0.16% of Badger Meter worth $9,099,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new position in shares of Badger Meter during the 4th quarter valued at approximately $25,000. Bessemer Group Inc. increased its holdings in shares of Badger Meter by 162.5% during the 4th quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock valued at $31,000 after purchasing an additional 91 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of Badger Meter by 2,457.1% during the 4th quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company's stock valued at $38,000 after purchasing an additional 172 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Badger Meter during the 4th quarter valued at approximately $39,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Badger Meter by 261.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 597 shares of the scientific and technical instruments company's stock valued at $128,000 after purchasing an additional 432 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Badger Meter Price Performance

NYSE BMI traded down $2.22 on Friday, hitting $242.41. The company had a trading volume of 165,205 shares, compared to its average volume of 211,845. The company has a market capitalization of $7.14 billion, a PE ratio of 57.31, a PEG ratio of 3.89 and a beta of 0.85. The company's fifty day moving average price is $226.29 and its 200-day moving average price is $216.04. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last released its earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.22. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. The business had revenue of $222.21 million during the quarter, compared to analyst estimates of $220.39 million. During the same quarter in the prior year, the firm earned $0.99 earnings per share. On average, sell-side analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders 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 0.56%. Badger Meter's payout ratio is 29.96%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BMI shares. Robert W. Baird cut their target price on shares of Badger Meter from $218.00 to $216.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Argus set a $240.00 target price on shares of Badger Meter in a report on Thursday, April 24th. Raymond James started coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They set a "market perform" rating for the company. Royal Bank of Canada lifted their target price on shares of Badger Meter from $238.00 to $252.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Finally, Stifel Nicolaus cut their target price on shares of Badger Meter from $209.00 to $196.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $229.80.

Badger Meter 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.