MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 251,800 shares of the scientific and technical instruments company's stock after acquiring an additional 10,008 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.86% of Badger Meter worth $53,412,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Badger Meter by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 350,378 shares of the scientific and technical instruments company's stock valued at $74,322,000 after acquiring an additional 12,180 shares during the last quarter. Burney Co. acquired a new stake in shares of Badger Meter during the 4th quarter worth approximately $385,000. Van ECK Associates Corp increased its holdings in shares of Badger Meter by 68.1% during the 4th quarter. Van ECK Associates Corp now owns 33,395 shares of the scientific and technical instruments company's stock worth $7,083,000 after buying an additional 13,526 shares during the last quarter. Fortress Financial Solutions LLC acquired a new stake in shares of Badger Meter during the 4th quarter worth approximately $369,000. Finally, Schroder Investment Management Group increased its holdings in shares of Badger Meter by 74.4% during the 4th quarter. Schroder Investment Management Group now owns 5,945 shares of the scientific and technical instruments company's stock worth $1,274,000 after buying an additional 2,536 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on BMI. Royal Bank of Canada raised their price target on shares of Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Stifel Nicolaus lowered their price objective on shares of Badger Meter from $209.00 to $196.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Robert W. Baird lowered their price objective on shares of Badger Meter from $218.00 to $216.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Maxim Group increased their price objective on shares of Badger Meter from $235.00 to $245.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, Argus set a $240.00 price objective on shares of Badger Meter in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $229.80.
Get Our Latest Stock Report on Badger Meter
Badger Meter Stock Performance
NYSE BMI traded up $0.87 during trading on Friday, reaching $245.05. The company's stock had a trading volume of 206,130 shares, compared to its average volume of 206,331. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 57.93, a P/E/G ratio of 3.89 and a beta of 0.83. Badger Meter, Inc. has a twelve month low of $162.17 and a twelve month high of $249.65. The business's fifty day moving average price is $203.96 and its 200-day moving average price is $211.80.
Badger Meter (NYSE:BMI - Get Free Report) last issued its 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 business had revenue of $222.21 million for the quarter, compared to the consensus estimate of $220.39 million. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. During the same quarter in the previous year, the firm earned $0.99 earnings per share. As a group, sell-side analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.
Badger Meter Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, May 23rd. Badger Meter's dividend payout ratio is currently 29.96%.
Insider Buying and Selling
In related news, VP William R. A. Bergum sold 148 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $212.13, for a total transaction of $31,395.24. Following the completion of the transaction, the vice president now owns 14,051 shares of the company's stock, valued at approximately $2,980,638.63. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth Bockhorst sold 16,073 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total transaction of $3,371,151.02. Following the completion of the sale, the chief executive officer now directly owns 34,961 shares of the company's stock, valued at $7,332,720.14. The trade was a 31.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,949 shares of company stock valued at $4,398,407. Corporate insiders own 0.80% of the company's stock.
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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