Badger Meter, Inc. (NYSE:BMI - Get Free Report)'s share price fell 4.2% during trading on Friday . The stock traded as low as $212.61 and last traded at $209.79. 40,216 shares changed hands during trading, a decline of 76% from the average session volume of 164,742 shares. The stock had previously closed at $219.02.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on BMI. Stifel Nicolaus increased their price objective on Badger Meter from $203.00 to $208.00 and gave the company a "hold" rating in a research report on Wednesday, December 11th. Maxim Group lifted their price target on Badger Meter from $216.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Finally, Robert W. Baird lifted their price target on Badger Meter from $184.00 to $203.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $216.00.
Check Out Our Latest Analysis on Badger Meter
Badger Meter Trading Down 4.0 %
The stock has a 50 day simple moving average of $218.08 and a 200 day simple moving average of $210.67. The firm has a market capitalization of $6.18 billion, a PE ratio of 52.16, a PEG ratio of 2.42 and a beta of 0.79.
Badger Meter Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.34 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.36 annualized dividend and a dividend yield of 0.65%. Badger Meter's dividend payout ratio (DPR) is presently 33.75%.
Hedge Funds Weigh In On Badger Meter
Several hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in shares of Badger Meter by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 338,198 shares of the scientific and technical instruments company's stock valued at $73,866,000 after buying an additional 19,848 shares during the period. KBC Group NV increased its stake in shares of Badger Meter by 0.8% during the third quarter. KBC Group NV now owns 331,769 shares of the scientific and technical instruments company's stock valued at $72,462,000 after buying an additional 2,515 shares during the period. Congress Asset Management Co. increased its stake in shares of Badger Meter by 2.8% during the third quarter. Congress Asset Management Co. now owns 295,027 shares of the scientific and technical instruments company's stock valued at $64,437,000 after buying an additional 7,967 shares during the period. Driehaus Capital Management LLC increased its stake in shares of Badger Meter by 66.4% during the second quarter. Driehaus Capital Management LLC now owns 128,651 shares of the scientific and technical instruments company's stock valued at $23,974,000 after buying an additional 51,318 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Badger Meter by 86.2% during the second quarter. Millennium Management LLC now owns 100,788 shares of the scientific and technical instruments company's stock valued at $18,782,000 after buying an additional 46,650 shares during the period. 89.01% of the stock is owned by hedge funds and other institutional investors.
About Badger Meter
(
Get 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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