Erste Asset Management GmbH purchased a new stake in Badger Meter, Inc. (NYSE:BMI - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,277 shares of the scientific and technical instruments company's stock, valued at approximately $5,285,000. Erste Asset Management GmbH owned approximately 0.08% of Badger Meter as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently made changes to their positions in the company. Blue Trust Inc. raised its position in Badger Meter by 1,016.7% in the 3rd quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company's stock valued at $44,000 after buying an additional 183 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Badger Meter by 46.3% in the second quarter. GAMMA Investing LLC now owns 499 shares of the scientific and technical instruments company's stock valued at $93,000 after purchasing an additional 158 shares during the last quarter. CWM LLC lifted its position in shares of Badger Meter by 40.9% in the second quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company's stock worth $107,000 after purchasing an additional 167 shares in the last quarter. Annex Advisory Services LLC bought a new stake in shares of Badger Meter in the third quarter worth $204,000. Finally, ORBA Wealth Advisors L.L.C. bought a new stake in shares of Badger Meter in the third quarter worth $207,000. Institutional investors own 89.01% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on BMI. Maxim Group boosted their price objective on shares of Badger Meter from $216.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Stifel Nicolaus boosted their price objective on shares of Badger Meter from $189.00 to $203.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird boosted their price objective on shares of Badger Meter from $184.00 to $203.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Badger Meter presently has a consensus rating of "Hold" and an average target price of $214.75.
View Our Latest Stock Analysis on Badger Meter
Badger Meter Stock Performance
NYSE:BMI traded down $1.69 during mid-day trading on Tuesday, hitting $218.87. The stock had a trading volume of 277,876 shares, compared to its average volume of 174,625. The company's 50 day simple moving average is $215.60 and its 200 day simple moving average is $203.20. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 54.31, a PEG ratio of 2.77 and a beta of 0.79. Badger Meter, Inc. has a twelve month low of $139.50 and a twelve month high of $230.76.
Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share for the quarter, missing analysts' consensus estimates of $1.11 by ($0.03). Badger Meter had a return on equity of 21.56% and a net margin of 14.80%. The business had revenue of $208.44 million for the quarter, compared to analyst estimates of $212.08 million. During the same period last year, the firm earned $0.88 EPS. Badger Meter's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts forecast that Badger Meter, Inc. will post 4.19 earnings per share for the current year.
Badger Meter Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, November 22nd. Badger Meter's payout ratio is 33.75%.
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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