Perpetual Ltd raised its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,103 shares of the scientific and technical instruments company's stock after acquiring an additional 9,783 shares during the period. Perpetual Ltd owned approximately 0.20% of Badger Meter worth $11,244,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its holdings in Badger Meter by 128.7% in the first quarter. Sequoia Financial Advisors LLC now owns 4,471 shares of the scientific and technical instruments company's stock worth $851,000 after acquiring an additional 2,516 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of Badger Meter in the first quarter worth about $345,000. Golden State Wealth Management LLC grew its stake in shares of 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 period. Consolidated Planning Corp acquired a new stake in Badger Meter during the first quarter valued at $1,209,000. Finally, Park Capital Management LLC WI purchased a new position in shares of Badger Meter in the 1st quarter valued at about $251,000. 89.01% of the stock is owned by institutional investors and hedge funds.
Badger Meter Price Performance
Shares of BMI stock opened at $246.09 on Friday. The company has a market capitalization of $7.25 billion, a PE ratio of 54.21, a price-to-earnings-growth ratio of 3.54 and a beta of 0.85. The firm's 50-day moving average is $237.86 and its two-hundred day moving average is $217.57. 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 announced its earnings results 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 during the quarter, compared to analyst estimates of $220.39 million. Badger Meter had a net margin of 15.74% and a return on equity of 22.35%. During the same quarter last year, the firm posted $0.99 earnings per share. Sell-side analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current year.
Badger Meter Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, May 23rd. Badger Meter's payout ratio is 29.96%.
Analyst Ratings Changes
Several equities research analysts have commented on BMI shares. Royal Bank Of Canada boosted their price objective on Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Raymond James Financial started coverage on Badger Meter in a research report on Tuesday, June 3rd. They set a "market perform" rating for the company. Robert W. Baird reduced their price objective on Badger Meter from $218.00 to $216.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Argus set a $240.00 target price on shares of Badger Meter in a report on Thursday, April 24th. Finally, Stifel Nicolaus increased their target price 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $236.60.
Check Out Our Latest Stock Report on Badger Meter
Badger Meter Profile
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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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