Bank of New York Mellon Corp Sells 24,511 Shares of Badger Meter, Inc. (NYSE:BMI)

Bank of New York Mellon Corp trimmed its stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 7.3% in the first quarter, according to the company in 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 quarter. Bank of New York Mellon Corp owned approximately 1.05% of Badger Meter worth $59,090,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BMI. Aster Capital Management DIFC Ltd acquired a new position in Badger Meter during the 4th quarter worth approximately $25,000. Bessemer Group Inc. increased its position in 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 worth $31,000 after purchasing an additional 91 shares in the last quarter. Golden State Wealth Management LLC increased its position 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 worth $35,000 after purchasing an additional 92 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Badger Meter in the 4th quarter valued at approximately $39,000. Finally, Olde Wealth Management LLC acquired a new position in Badger Meter in the 1st quarter valued at approximately $41,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Stock Performance

Shares of NYSE:BMI traded down $0.85 during trading on Friday, reaching $238.84. The stock had a trading volume of 159,086 shares, compared to its average volume of 215,134. The firm's fifty day moving average is $242.79 and its 200 day moving average is $218.69. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 52.61, a P/E/G ratio of 3.42 and a beta of 0.83.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The scientific and technical instruments company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.22. Badger Meter had a net margin of 15.74% and a return on equity of 22.35%. The company had revenue of $222.21 million for the quarter, compared to analyst estimates of $220.39 million. During the same period in the prior year, the firm posted $0.99 EPS. On average, research analysts forecast that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BMI shares. Royal Bank Of Canada upped their price target on shares of Badger Meter from $238.00 to $252.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Raymond James Financial started coverage on shares of Badger Meter in a research report on Tuesday, June 3rd. They issued a "market perform" rating for the company. Argus set a $240.00 price target on shares of Badger Meter in a research report on Thursday, April 24th. Stifel Nicolaus upped their price target on shares of Badger Meter from $200.00 to $230.00 and gave the company a "hold" rating in a research report on Monday, June 16th. Finally, Robert W. Baird decreased 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 report on Monday, April 21st. Four investment 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 presently has a consensus 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.