Deutsche Bank AG purchased a new stake in Badger Meter, Inc. (NYSE:BMI - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund purchased 98,707 shares of the scientific and technical instruments company's stock, valued at approximately $14,646,000. Deutsche Bank AG owned about 0.34% of Badger Meter at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its position in shares of Badger Meter by 76.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company's stock worth $26,000 after purchasing an additional 65 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in Badger Meter by 62.3% in the third quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 71 shares during the period. Cardinal Capital Management boosted its holdings in shares of Badger Meter by 0.4% in the fourth quarter. Cardinal Capital Management now owns 20,165 shares of the scientific and technical instruments company's stock valued at $3,517,000 after acquiring an additional 75 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in Badger Meter by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 4,316 shares of the scientific and technical instruments company's stock valued at $753,000 after purchasing an additional 79 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Badger Meter by 13.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 688 shares of the scientific and technical instruments company's stock worth $123,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds own 89.01% of the company's stock.
Badger Meter Stock Performance
Shares of Badger Meter stock opened at $132.19 on Friday. The firm has a market cap of $3.83 billion, a P/E ratio of 30.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.65. Badger Meter, Inc. has a twelve month low of $112.09 and a twelve month high of $204.00. The firm's 50-day simple moving average is $137.48 and its 200-day simple moving average is $139.15.
Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.01. The firm had revenue of $220.30 million for the quarter, compared to analyst estimates of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The company's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 earnings per share. On average, equities analysts forecast that Badger Meter, Inc. will post 4.43 earnings per share for the current fiscal year.
Badger Meter Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be issued a $0.44 dividend. This is a boost from Badger Meter's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, August 28th. Badger Meter's dividend payout ratio is currently 37.38%.
Insider Buying and Selling at Badger Meter
In other news, VP Edward F. Callahan bought 751 shares of the business's stock in a transaction on Thursday, July 30th. The shares were bought at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the acquisition, the vice president owned 1,937 shares in the company, valued at approximately $261,979.25. This trade represents a 63.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
BMI has been the subject of a number of recent research reports. Zacks Research upgraded Badger Meter from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Stifel Nicolaus set a $170.00 target price on Badger Meter and gave the company a "buy" rating in a report on Monday, July 20th. Robert W. Baird set a $167.00 target price on Badger Meter and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Barclays reiterated an "underweight" rating and set a $112.00 price target (up from $109.00) on shares of Badger Meter in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Badger Meter from $172.00 to $170.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Badger Meter currently has an average rating of "Hold" and a consensus price target of $164.00.
Read Our Latest Stock Report on BMI
About Badger Meter
(
Free Report)
Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company's core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.
The company's product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.
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