Comerica Bank Buys 76,133 Shares of Badger Meter, Inc. $BMI

Key Points

• Comerica Bank increased its stake in Badger Meter, Inc. by 667.5% in Q1, owning 87,538 shares worth approximately $16.65 million.
• Badger Meter's stock price has dropped 2.1%, with a 52-week range between $162.17 and $256.08.
• The company declared a quarterly dividend of $0.40, increasing from the previous $0.34, with a dividend yield of 0.9%.

Comerica Bank raised its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 667.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,538 shares of the scientific and technical instruments company's stock after acquiring an additional 76,133 shares during the period. Comerica Bank owned approximately 0.30% of Badger Meter worth $16,654,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in Badger Meter by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock valued at $35,000 after purchasing an additional 92 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of Badger Meter by 83.0% during the first quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock valued at $37,000 after purchasing an additional 88 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Badger Meter during the first quarter valued at approximately $37,000. Heck Capital Advisors LLC acquired a new stake in Badger Meter during the fourth quarter valued at approximately $39,000. Finally, Olde Wealth Management LLC acquired a new stake in Badger Meter during the first quarter valued at approximately $41,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Trading Down 2.0%

NYSE:BMI traded down $3.80 on Friday, reaching $182.69. 412,986 shares of the stock traded hands, compared to its average volume of 310,639. Badger Meter, Inc. has a 1-year low of $162.17 and a 1-year high of $256.08. The company's 50 day moving average is $211.29 and its 200-day moving average is $214.87. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 39.80, a price-to-earnings-growth ratio of 3.22 and a beta of 0.84.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.02). Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The company had revenue of $238.10 million for the quarter, compared to analyst estimates of $235.38 million. During the same quarter in the prior year, the company posted $1.12 EPS. Badger Meter's revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.9%. This is an increase from Badger Meter's previous quarterly dividend of $0.34. The ex-dividend date is Friday, August 22nd. Badger Meter's dividend payout ratio is currently 34.86%.

Analysts Set New Price Targets

BMI has been the subject of several analyst reports. Robert W. Baird lifted their price target on shares of Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 target price on Badger Meter in a research note on Wednesday, July 23rd. Royal Bank Of Canada cut their price target on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Finally, Raymond James Financial assumed coverage on Badger Meter in a research report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Badger Meter presently has an average rating of "Hold" and a consensus target price of $238.40.

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.