Modern Wealth Management LLC purchased a new position in Badger Meter, Inc. (NYSE:BMI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,719 shares of the scientific and technical instruments company's stock, valued at approximately $327,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new position in Badger Meter during the 4th quarter worth about $39,000. Golden State Wealth Management LLC grew 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 during the last quarter. SBI Securities Co. Ltd. grew its position in Badger Meter by 83.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 88 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Badger Meter during the 1st quarter worth approximately $37,000. Finally, Olde Wealth Management LLC purchased a new position in Badger Meter during the 1st quarter worth approximately $41,000. 89.01% of the stock is currently owned by institutional investors.
Badger Meter Price Performance
Shares of BMI stock traded down $1.15 during trading hours on Friday, reaching $177.19. 912,836 shares of the stock were exchanged, compared to its average volume of 359,678. The business's fifty day moving average is $192.44 and its two-hundred day moving average is $211.41. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $256.08. The firm has a market capitalization of $5.22 billion, a P/E ratio of 38.60, a P/E/G ratio of 3.16 and a beta of 0.87.
Badger Meter (NYSE:BMI - Get Free Report) last released its earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.02). The firm had revenue of $238.10 million for the quarter, compared to analysts' expectations of $235.38 million. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The firm's quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 earnings per share. As a group, equities research analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.
Badger Meter Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This is an increase from Badger Meter's previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Badger Meter's dividend payout ratio is currently 34.86%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on BMI shares. Robert W. Baird lifted their target price on shares of Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada cut their price target on shares of Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 price target on shares of Badger Meter in a report on Wednesday, July 23rd. Raymond James Financial initiated coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They issued a "market perform" rating for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Badger Meter in a report on Tuesday, September 9th. They issued an "overweight" rating and a $230.00 price target for the company. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.00.
Read Our Latest Analysis on BMI
About Badger Meter
(
Free Report)
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.
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