Royal Bank of Canada Has $33.75 Million Holdings in Badger Meter, Inc. (NYSE:BMI)

Royal Bank of Canada reduced its stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 4.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 159,111 shares of the scientific and technical instruments company's stock after selling 7,867 shares during the period. Royal Bank of Canada owned approximately 0.54% of Badger Meter worth $33,751,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Badger Meter during the 4th quarter worth approximately $94,547,000. Pictet Asset Management Holding SA boosted its holdings in Badger Meter by 5,897.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 235,322 shares of the scientific and technical instruments company's stock worth $49,917,000 after purchasing an additional 231,398 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Badger Meter by 184.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 256,217 shares of the scientific and technical instruments company's stock valued at $54,350,000 after purchasing an additional 166,191 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Badger Meter in the 4th quarter valued at $20,586,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Badger Meter by 111.1% during the 4th quarter. Ameriprise Financial Inc. now owns 182,382 shares of the scientific and technical instruments company's stock worth $38,687,000 after buying an additional 95,966 shares during the last quarter. Institutional investors own 89.01% of the company's stock.

Badger Meter Stock Performance

NYSE:BMI traded down $3.26 during mid-day trading on Wednesday, hitting $246.55. 21,151 shares of the stock were exchanged, compared to its average volume of 207,211. The firm's 50-day simple moving average is $210.54 and its 200 day simple moving average is $213.42. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 58.38, a price-to-earnings-growth ratio of 3.89 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 $250.68.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.22. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. The firm had revenue of $222.21 million during the quarter, compared to analysts' expectations of $220.39 million. During the same period in the previous year, the firm earned $0.99 EPS. On average, analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, May 23rd. Badger Meter's dividend payout ratio (DPR) is presently 29.96%.

Analyst Ratings Changes

BMI has been the topic of several recent analyst reports. Royal Bank of Canada boosted their price target on Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Robert W. Baird cut their price target on shares of Badger Meter from $218.00 to $216.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Maxim Group upped their target price on shares of Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Argus set a $240.00 price objective on Badger Meter in a research report on Thursday, April 24th. Finally, Stifel Nicolaus decreased their target price on Badger Meter from $209.00 to $196.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $229.80.

Insider Buying and Selling

In related news, VP William R. A. Bergum sold 148 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $212.13, for a total value of $31,395.24. Following the completion of the transaction, the vice president now owns 14,051 shares in the company, valued at $2,980,638.63. This trade represents a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Karen M. Bauer sold 1,147 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $209.74, for a total transaction of $240,571.78. Following the transaction, the vice president now directly owns 5,076 shares of the company's stock, valued at $1,064,640.24. The trade was a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,949 shares of company stock worth $4,398,407 in the last three months. 0.80% of the stock is owned by corporate insiders.

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.