Bank of New York Mellon Corp grew its position in Badger Meter, Inc. (NYSE:BMI) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 577,317 shares of the scientific and technical instruments company’s stock after buying an additional 10,630 shares during the quarter. Bank of New York Mellon Corp owned 1.98% of Badger Meter worth $25,807,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Badger Meter in the first quarter valued at $163,000. Amalgamated Bank acquired a new stake in shares of Badger Meter in the second quarter valued at $209,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Badger Meter in the first quarter valued at $224,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Badger Meter in the second quarter valued at $275,000. Finally, Victory Capital Management Inc. grew its stake in shares of Badger Meter by 37.4% in the first quarter. Victory Capital Management Inc. now owns 6,497 shares of the scientific and technical instruments company’s stock valued at $306,000 after buying an additional 1,767 shares in the last quarter. 85.71% of the stock is owned by institutional investors and hedge funds.
BMI has been the subject of a number of research reports. Canaccord Genuity raised Badger Meter from a “sell” rating to a “hold” rating and lifted their price objective for the company from $40.00 to $44.00 in a research note on Friday, June 15th. Zacks Investment Research raised Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 19th. ValuEngine cut Badger Meter from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Stifel Nicolaus lifted their target price on Badger Meter from $41.00 to $49.00 and gave the company a “hold” rating in a report on Friday, July 20th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $45.00 target price on shares of Badger Meter in a report on Friday, July 20th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.80.
In related news, VP Fred J. Begale sold 2,362 shares of Badger Meter stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $55.01, for a total value of $129,933.62. Following the completion of the transaction, the vice president now directly owns 7,269 shares in the company, valued at $399,867.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gregory M. Gomez sold 6,000 shares of Badger Meter stock in a transaction on Monday, August 27th. The shares were sold at an average price of $54.82, for a total value of $328,920.00. Following the completion of the transaction, the vice president now owns 17,016 shares of the company’s stock, valued at $932,817.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,362 shares of company stock valued at $2,426,234. 2.80% of the stock is currently owned by company insiders.
NYSE:BMI opened at $54.50 on Friday. The firm has a market capitalization of $1.60 billion, a P/E ratio of 45.59, a P/E/G ratio of 4.27 and a beta of 0.70. Badger Meter, Inc. has a 12-month low of $41.00 and a 12-month high of $56.40.
Badger Meter (NYSE:BMI) last released its earnings results on Wednesday, July 18th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. The firm had revenue of $113.65 million during the quarter, compared to analyst estimates of $111.03 million. Badger Meter had a return on equity of 12.51% and a net margin of 6.96%. Badger Meter’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. research analysts anticipate that Badger Meter, Inc. will post 1.43 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a $0.15 dividend. The ex-dividend date is Thursday, August 30th. This is a positive change from Badger Meter’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 1.10%. Badger Meter’s dividend payout ratio (DPR) is 50.42%.
Badger Meter Company Profile
Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.
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