KBC Group NV Sells 143,078 Shares of Badger Meter, Inc. (NYSE:BMI)

KBC Group NV lessened its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 80.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,063 shares of the scientific and technical instruments company's stock after selling 143,078 shares during the period. KBC Group NV owned about 0.12% of Badger Meter worth $6,480,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Badger Meter during the 4th quarter valued at approximately $94,547,000. Pictet Asset Management Holding SA boosted its holdings in shares of Badger Meter by 5,897.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 235,322 shares of the scientific and technical instruments company's stock valued at $49,917,000 after acquiring an additional 231,398 shares in the last quarter. GAMMA Investing LLC grew its position in Badger Meter by 21,179.0% during 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 acquiring an additional 166,255 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Badger Meter by 184.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 256,217 shares of the scientific and technical instruments company's stock worth $54,350,000 after purchasing an additional 166,191 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Badger Meter in the fourth quarter valued at about $20,586,000. Institutional investors and hedge funds own 89.01% of the company's stock.

Badger Meter Trading Up 1.0%

Badger Meter stock traded up $2.29 during midday trading on Friday, reaching $242.62. The stock had a trading volume of 145,014 shares, compared to its average volume of 213,096. Badger Meter, Inc. has a 12 month low of $162.17 and a 12 month high of $256.08. The company has a fifty day moving average price of $240.51 and a two-hundred day moving average price of $217.88. The company has a market capitalization of $7.15 billion, a P/E ratio of 53.44, a PEG ratio of 3.44 and a beta of 0.83.

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

Badger Meter Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Raymond James Financial began coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They issued a "market perform" rating for the company. Robert W. Baird reduced their target price on Badger Meter from $218.00 to $216.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Royal Bank Of Canada lifted their target price on shares of Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Argus set a $240.00 target price on Badger Meter in a research report on Thursday, April 24th. Finally, Stifel Nicolaus lifted their target price on Badger Meter from $200.00 to $230.00 and gave the stock a "hold" rating in a report on Monday, June 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $236.60.

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.