Badger Meter, Inc. (NYSE:BMI) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,851 shares of the scientific and technical instruments company's stock after buying an additional 6,560 shares during the period. Rhumbline Advisers owned 0.45% of Badger Meter worth $25,085,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in Badger Meter during the fourth quarter worth approximately $25,000. Bessemer Group Inc. increased its position in Badger Meter by 162.5% during the fourth quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock worth $31,000 after buying an additional 91 shares during the period. Principal Securities Inc. increased its position in Badger Meter by 2,457.1% during the fourth quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company's stock worth $38,000 after buying an additional 172 shares during the period. Heck Capital Advisors LLC acquired a new position in Badger Meter during the fourth quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC increased its position in Badger Meter by 261.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 597 shares of the scientific and technical instruments company's stock worth $128,000 after buying an additional 432 shares during the period. Institutional investors and hedge funds own 89.01% of the company's stock.

Badger Meter Stock Down 0.7%

Shares of Badger Meter stock traded down $1.75 during trading on Friday, reaching $246.42. The company's stock had a trading volume of 215,571 shares, compared to its average volume of 210,942. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $256.08. The company has a market capitalization of $7.26 billion, a P/E ratio of 58.26, a price-to-earnings-growth ratio of 3.89 and a beta of 0.85. The business has a 50 day moving average price of $219.67 and a 200-day moving average price of $215.12.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.22. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $220.39 million. During the same period in the previous year, the business earned $0.99 earnings per share. Research analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were paid a $0.34 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.55%. Badger Meter's dividend payout ratio (DPR) is presently 29.96%.

Analyst Upgrades and Downgrades

BMI has been the topic of several research analyst reports. Argus set a $240.00 price target on Badger Meter in a research report on Thursday, April 24th. Royal Bank of Canada lifted their target price on Badger Meter from $238.00 to $252.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Raymond James assumed coverage on Badger Meter in a research note on Tuesday. They issued a "market perform" rating on the stock. Robert W. Baird lowered their target price on Badger Meter from $218.00 to $216.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, Stifel Nicolaus lowered their target price 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $229.80.

Badger Meter Company 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.