New York State Common Retirement Fund lifted its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 51.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,121 shares of the scientific and technical instruments company's stock after purchasing an additional 9,519 shares during the quarter. New York State Common Retirement Fund owned 0.10% of Badger Meter worth $4,341,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its stake in Badger Meter by 851.3% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 141,591 shares of the scientific and technical instruments company's stock valued at $21,585,000 after buying an additional 126,707 shares in the last quarter. Invesco Ltd. boosted its stake in Badger Meter by 8.6% during the third quarter. Invesco Ltd. now owns 1,024,305 shares of the scientific and technical instruments company's stock valued at $147,367,000 after buying an additional 80,979 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Badger Meter by 33.7% during the third quarter. Victory Capital Management Inc. now owns 233,660 shares of the scientific and technical instruments company's stock valued at $33,617,000 after buying an additional 58,941 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Badger Meter by 333.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 61,000 shares of the scientific and technical instruments company's stock valued at $9,417,000 after buying an additional 46,924 shares in the last quarter. Finally, EULAV Asset Management boosted its stake in Badger Meter by 355.1% during the third quarter. EULAV Asset Management now owns 57,800 shares of the scientific and technical instruments company's stock valued at $8,316,000 after buying an additional 45,100 shares in the last quarter. Institutional investors own 89.01% of the company's stock.
Badger Meter Stock Performance
Shares of NYSE BMI traded up $1.72 during mid-day trading on Monday, reaching $190.72. 127,542 shares of the company traded hands, compared to its average volume of 189,621. The stock has a market cap of $5.61 billion, a PE ratio of 54.96, a price-to-earnings-growth ratio of 3.12 and a beta of 0.82. The company's fifty day moving average is $164.56 and its two-hundred day moving average is $154.44. Badger Meter, Inc. has a fifty-two week low of $134.06 and a fifty-two week high of $191.50.
Badger Meter (NYSE:BMI - Get Free Report) last released its earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.17. The firm had revenue of $196.80 million for the quarter, compared to analyst estimates of $182.25 million. Badger Meter had a return on equity of 20.26% and a net margin of 13.81%. The company's revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. Research analysts forecast that Badger Meter, Inc. will post 3.89 earnings per share for the current year.
Badger Meter Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be given a $0.27 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.57%. Badger Meter's dividend payout ratio is currently 31.12%.
Analysts Set New Price Targets
BMI has been the subject of several analyst reports. Northcoast Research raised Badger Meter from a "sell" rating to a "neutral" rating in a report on Thursday, April 18th. Stifel Nicolaus raised their price target on Badger Meter from $147.00 to $175.00 and gave the stock a "hold" rating in a research note on Friday, April 19th. Maxim Group raised their price target on Badger Meter from $190.00 to $207.00 and gave the stock a "buy" rating in a research note on Friday, April 19th. StockNews.com raised Badger Meter from a "hold" rating to a "buy" rating in a report on Friday, April 19th. Finally, Robert W. Baird increased their price objective on Badger Meter from $151.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, April 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Badger Meter has an average rating of "Hold" and a consensus target price of $164.80.
Get Our Latest Stock Analysis on BMI
Insiders Place Their Bets
In other Badger Meter news, VP William R. A. Bergum sold 194 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $159.55, for a total value of $30,952.70. Following the completion of the sale, the vice president now owns 13,672 shares in the company, valued at approximately $2,181,367.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Fred J. Begale sold 1,203 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $162.92, for a total transaction of $195,992.76. Following the completion of the transaction, the vice president now owns 2,181 shares in the company, valued at approximately $355,328.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP William R. A. Bergum sold 194 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $159.55, for a total value of $30,952.70. Following the transaction, the vice president now owns 13,672 shares of the company's stock, valued at approximately $2,181,367.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,813 shares of company stock worth $448,167. 0.80% of the stock is currently owned by company insiders.
Badger Meter Company 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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