Bank of New York Mellon Corp Has $59.09 Million Stake in Badger Meter, Inc. (NYSE:BMI)

Bank of New York Mellon Corp trimmed its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 7.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,594 shares of the scientific and technical instruments company's stock after selling 24,511 shares during the period. Bank of New York Mellon Corp owned 1.05% of Badger Meter worth $59,090,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of Badger Meter in the fourth quarter valued at approximately $25,000. Bessemer Group Inc. lifted its position in Badger Meter by 162.5% in the 4th quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock valued at $31,000 after acquiring an additional 91 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of 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 worth $35,000 after purchasing an additional 92 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Badger Meter during the 4th quarter valued at $39,000. Finally, Olde Wealth Management LLC purchased a new position in Badger Meter in the first quarter worth $41,000. 89.01% of the stock is owned by institutional investors and hedge funds.

Badger Meter Trading Down 0.6%

Badger Meter stock traded down $1.41 during trading on Tuesday, reaching $237.97. The company had a trading volume of 167,254 shares, compared to its average volume of 215,326. The firm's 50-day simple moving average is $242.79 and its 200 day simple moving average is $218.68. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 52.42, a price-to-earnings-growth ratio of 3.41 and a beta of 0.83. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08.

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 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 net margin of 15.74% and a return on equity of 22.35%. During the same period in the previous year, the company earned $0.99 earnings per share. On average, analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Dividend Announcement

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

Analysts Set New Price Targets

BMI has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Badger Meter from $200.00 to $230.00 and gave the stock a "hold" rating in a research report on Monday, June 16th. Argus set a $240.00 price target on shares of Badger Meter in a research report on Thursday, April 24th. Raymond James Financial initiated coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Robert W. Baird dropped their price objective on shares of 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, Royal Bank Of Canada upped 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $236.60.

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.