1,313 Shares in Badger Meter, Inc. (NYSE:BMI) Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. acquired a new position in Badger Meter, Inc. (NYSE:BMI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,313 shares of the scientific and technical instruments company's stock, valued at approximately $250,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Congress Asset Management Co. raised its holdings in Badger Meter by 9.8% in the 1st quarter. Congress Asset Management Co. now owns 398,588 shares of the scientific and technical instruments company's stock worth $75,831,000 after acquiring an additional 35,424 shares during the period. Portside Wealth Group LLC boosted its stake in Badger Meter by 77.0% during the 1st quarter. Portside Wealth Group LLC now owns 2,773 shares of the scientific and technical instruments company's stock valued at $528,000 after purchasing an additional 1,206 shares during the period. Rhumbline Advisers grew its holdings in Badger Meter by 5.2% in the 1st quarter. Rhumbline Advisers now owns 131,851 shares of the scientific and technical instruments company's stock valued at $25,085,000 after buying an additional 6,560 shares during the last quarter. GAMMA Investing LLC increased its position in Badger Meter by 21,179.0% in the 1st quarter. GAMMA Investing LLC now owns 167,040 shares of the scientific and technical instruments company's stock worth $31,779,000 after buying an additional 166,255 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in shares of Badger Meter during the first quarter worth approximately $1,406,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

Badger Meter Stock Performance

NYSE BMI traded down $0.92 during trading on Thursday, hitting $244.41. 137,423 shares of the company's stock traded hands, compared to its average volume of 211,259. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 57.78, a PEG ratio of 3.89 and a beta of 0.85. The business has a 50 day moving average of $224.85 and a 200-day moving average of $215.86. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $256.08.

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 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.22. The company had revenue of $222.21 million for the quarter, compared to analysts' expectations of $220.39 million. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. During the same period in the prior year, the business earned $0.99 earnings per share. On average, analysts expect that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 0.56%. Badger Meter's dividend payout ratio is currently 29.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BMI shares. Stifel Nicolaus lowered their price objective on Badger Meter from $209.00 to $196.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Robert W. Baird reduced their target price 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. Raymond James assumed coverage on Badger Meter in a research report on Tuesday, June 3rd. They set a "market perform" rating for the company. Argus set a $240.00 target price on Badger Meter in a research note on Thursday, April 24th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Badger Meter presently has an average rating of "Hold" and an average price target of $229.80.

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.