Royal Bank of Canada Has $29.06 Million Stock Holdings in Badger Meter, Inc. $BMI

Royal Bank of Canada trimmed its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 4.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,768 shares of the scientific and technical instruments company's stock after selling 6,343 shares during the quarter. Royal Bank of Canada owned about 0.52% of Badger Meter worth $29,064,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its position in Badger Meter by 22.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,731 shares of the scientific and technical instruments company's stock worth $519,000 after acquiring an additional 506 shares during the period. SG Americas Securities LLC bought a new position in Badger Meter during the first quarter worth about $369,000. GAMMA Investing LLC increased its position in Badger Meter by 11.8% during the first quarter. GAMMA Investing LLC now owns 878 shares of the scientific and technical instruments company's stock worth $167,000 after acquiring an additional 93 shares during the period. Westfield Capital Management Co. LP bought a new position in Badger Meter during the first quarter worth about $65,448,000. Finally, Golden State Wealth Management LLC increased its holdings in Badger Meter by 100.0% in 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. 89.01% of the stock is owned by institutional investors.

Badger Meter Stock Performance

Shares of BMI traded down $3.47 during mid-day trading on Friday, reaching $177.82. The company had a trading volume of 315,285 shares, compared to its average volume of 289,675. The company's 50 day simple moving average is $198.64 and its 200 day simple moving average is $212.51. Badger Meter, Inc. has a 1-year low of $162.17 and a 1-year high of $256.08. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 38.74, a P/E/G ratio of 3.21 and a beta of 0.87.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly 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). Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The company had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.38 million. During the same quarter in the previous year, the business posted $1.12 earnings per share. The company's revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities analysts forecast that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, August 22nd. This is an increase from Badger Meter's previous quarterly dividend of $0.34. Badger Meter's dividend payout ratio is 34.86%.

Analyst Upgrades and Downgrades

Several research firms have commented on BMI. Royal Bank Of Canada decreased their target price on shares of Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Raymond James Financial began coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. began coverage on shares of Badger Meter in a report on Tuesday. They issued an "overweight" rating and a $230.00 target price on the stock. Stifel Nicolaus set a $224.00 target price on shares of Badger Meter in a report on Wednesday, July 23rd. Finally, Robert W. Baird raised 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. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $237.00.

Badger Meter 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.