Eagle Asset Management Inc. boosted its position in Badger Meter, Inc. (NYSE:BMI) by 12.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 288,858 shares of the scientific and technical instruments company’s stock after purchasing an additional 31,548 shares during the period. Eagle Asset Management Inc. owned approximately 0.99% of Badger Meter worth $13,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BMI. Schwab Charles Investment Management Inc. lifted its stake in Badger Meter by 3.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 134,633 shares of the scientific and technical instruments company’s stock worth $6,436,000 after purchasing an additional 4,906 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Badger Meter during the fourth quarter valued at approximately $2,233,000. First Personal Financial Services raised its stake in shares of Badger Meter by 946.5% during the fourth quarter. First Personal Financial Services now owns 31,238 shares of the scientific and technical instruments company’s stock valued at $1,493,000 after acquiring an additional 28,253 shares in the last quarter. Copeland Capital Management LLC bought a new stake in shares of Badger Meter during the fourth quarter valued at approximately $8,381,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Badger Meter by 1.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 124,438 shares of the scientific and technical instruments company’s stock valued at $5,948,000 after acquiring an additional 2,353 shares in the last quarter. 83.82% of the stock is owned by institutional investors and hedge funds.
BMI has been the subject of several research analyst reports. ValuEngine raised shares of Badger Meter from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $41.00 price target (down previously from $49.00) on shares of Badger Meter in a research note on Thursday, April 19th. Boenning Scattergood reaffirmed a “hold” rating on shares of Badger Meter in a research note on Wednesday, April 18th. Zacks Investment Research downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. Finally, Robert W. Baird decreased their price target on shares of Badger Meter from $48.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, April 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $49.40.
In related news, Director Gale E. Klappa sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $50.16, for a total value of $601,920.00. Following the completion of the transaction, the director now owns 27,723 shares of the company’s stock, valued at $1,390,585.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard A. Meeusen sold 13,130 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $48.78, for a total transaction of $640,481.40. Following the completion of the transaction, the chairman now directly owns 105,992 shares of the company’s stock, valued at approximately $5,170,289.76. The disclosure for this sale can be found here. Insiders sold 29,504 shares of company stock valued at $1,451,998 in the last three months. 2.80% of the stock is currently owned by insiders.
Badger Meter opened at $43.90 on Thursday, MarketBeat.com reports. Badger Meter, Inc. has a fifty-two week low of $38.30 and a fifty-two week high of $52.10. The company has a market cap of $1.27 billion, a PE ratio of 38.25 and a beta of 0.67.
Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Tuesday, April 17th. The scientific and technical instruments company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $105.04 million during the quarter, compared to the consensus estimate of $107.17 million. Badger Meter had a return on equity of 12.11% and a net margin of 8.22%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. sell-side analysts expect that Badger Meter, Inc. will post 1.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, May 30th. Badger Meter’s dividend payout ratio (DPR) is 43.70%.
Badger Meter 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.
Receive News & Ratings for Badger Meter Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Badger Meter and related companies with MarketBeat.com's FREE daily email newsletter.