Edgestream Partners L.P. Boosts Stock Holdings in Badger Meter, Inc. (NYSE:BMI)

Edgestream Partners L.P. boosted its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 51.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,576 shares of the scientific and technical instruments company's stock after buying an additional 12,125 shares during the period. Edgestream Partners L.P. owned approximately 0.12% of Badger Meter worth $6,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Badger Meter by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,841,879 shares of the scientific and technical instruments company's stock valued at $814,939,000 after buying an additional 44,839 shares in the last quarter. Geode Capital Management LLC increased its position in Badger Meter by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 796,528 shares of the scientific and technical instruments company's stock valued at $169,448,000 after buying an additional 17,873 shares in the last quarter. Invesco Ltd. increased its position in Badger Meter by 1.6% in the 4th quarter. Invesco Ltd. now owns 500,946 shares of the scientific and technical instruments company's stock valued at $106,261,000 after buying an additional 7,719 shares in the last quarter. Norges Bank acquired a new position in Badger Meter during the 4th quarter valued at about $94,547,000. Finally, JPMorgan Chase & Co. boosted its stake in Badger Meter by 4.1% during the 4th quarter. JPMorgan Chase & Co. now owns 433,169 shares of the scientific and technical instruments company's stock valued at $91,884,000 after purchasing an additional 17,060 shares during the last quarter. 89.01% of the stock is owned by institutional investors.

Badger Meter Price Performance

Shares of NYSE BMI traded up $5.26 during midday trading on Thursday, reaching $246.17. The company's stock had a trading volume of 296,236 shares, compared to its average volume of 215,641. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $256.08. The firm has a 50 day moving average price of $243.57 and a 200-day moving average price of $219.13. The stock has a market capitalization of $7.25 billion, a P/E ratio of 54.22, a PEG ratio of 3.39 and a beta of 0.83.

Badger Meter (NYSE:BMI - Get Free Report) last announced its earnings results 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. Badger Meter had a return on equity of 22.35% and a net margin of 15.74%. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $220.39 million. During the same quarter in the previous year, the business earned $0.99 EPS. On average, equities analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 annualized dividend and a yield of 0.55%. Badger Meter's payout ratio is 29.96%.

Analysts Set New Price Targets

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