Principal Financial Group Inc. lifted its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 154,974 shares of the scientific and technical instruments company's stock after purchasing an additional 3,488 shares during the period. Principal Financial Group Inc. owned about 0.53% of Badger Meter worth $29,484,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Badger Meter during the fourth quarter valued at approximately $25,000. Bessemer Group Inc. raised its holdings in Badger Meter by 162.5% during the 4th quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock valued at $31,000 after buying an additional 91 shares during the last quarter. Golden State Wealth Management LLC boosted 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 valued at $35,000 after buying an additional 92 shares during the period. Heck Capital Advisors LLC bought a new stake in Badger Meter in the 4th quarter worth $39,000. Finally, Global X Japan Co. Ltd. bought a new stake in Badger Meter in the 1st quarter worth $45,000. Hedge funds and other institutional investors own 89.01% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Argus set a $240.00 target price on shares of Badger Meter in a report on Thursday, April 24th. Robert W. Baird lowered their price target on Badger Meter from $218.00 to $216.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Raymond James Financial began coverage on Badger Meter in a research report on Tuesday, June 3rd. They issued a "market perform" rating on the stock. Stifel Nicolaus boosted their target price on Badger Meter from $200.00 to $230.00 and gave the company a "hold" rating in a research note on Monday, June 16th. Finally, Royal Bank Of Canada upped their target price on Badger Meter from $238.00 to $252.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $236.60.
Read Our Latest Analysis on Badger Meter
Badger Meter Trading Down 0.4%
Badger Meter stock traded down $0.85 during trading hours on Friday, hitting $238.84. 159,086 shares of the stock traded hands, compared to its average volume of 215,559. Badger Meter, Inc. has a one year low of $162.17 and a one year high of $256.08. The firm's 50-day moving average price is $242.79 and its two-hundred day moving average price is $218.69. The company has a market cap of $7.03 billion, a PE ratio of 52.61, a PEG ratio of 3.41 and a beta of 0.83.
Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.22. The company had revenue of $222.21 million for the quarter, compared to analyst estimates of $220.39 million. Badger Meter had a return on equity of 22.35% and a net margin of 15.74%. During the same period in the previous year, the company posted $0.99 earnings per share. On average, sell-side analysts expect that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.
Badger Meter Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, May 23rd. Badger Meter's dividend payout ratio is presently 29.96%.
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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