Raymond James Financial Inc. Invests $20.59 Million in Badger Meter, Inc. (NYSE:BMI)

Raymond James Financial Inc. purchased a new position in Badger Meter, Inc. (NYSE:BMI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 97,048 shares of the scientific and technical instruments company's stock, valued at approximately $20,586,000. Raymond James Financial Inc. owned 0.33% of Badger Meter at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BMI. R Squared Ltd bought a new stake in Badger Meter during the fourth quarter valued at $28,000. Principal Securities Inc. boosted its stake in Badger Meter by 2,457.1% during the fourth quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company's stock valued at $38,000 after buying an additional 172 shares during the period. Heck Capital Advisors LLC bought a new stake in Badger Meter during the fourth quarter valued at $39,000. ORG Partners LLC bought a new stake in Badger Meter during the fourth quarter valued at $42,000. Finally, Smartleaf Asset Management LLC boosted its stake in Badger Meter by 261.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 597 shares of the scientific and technical instruments company's stock valued at $128,000 after buying an additional 432 shares during the period. 89.01% of the stock is owned by institutional investors.

Badger Meter Stock Down 1.2 %

Shares of BMI traded down $2.36 during trading hours on Tuesday, hitting $197.39. The company had a trading volume of 55,365 shares, compared to its average volume of 177,917. The firm has a market cap of $5.81 billion, a P/E ratio of 46.74, a P/E/G ratio of 3.89 and a beta of 0.83. The stock's 50 day moving average price is $211.69 and its 200 day moving average price is $213.90. Badger Meter, Inc. has a 52-week low of $151.18 and a 52-week high of $239.11.

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Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The scientific and technical instruments company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.03. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. On average, research analysts expect that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.36 dividend on an annualized basis and a yield of 0.69%. Badger Meter's dividend payout ratio is presently 32.15%.

Insider Activity at Badger Meter

In other Badger Meter news, VP William R. A. Bergum sold 2,416 shares of Badger Meter stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $210.33, for a total transaction of $508,157.28. Following the sale, the vice president now directly owns 14,199 shares of the company's stock, valued at approximately $2,986,475.67. The trade was a 14.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Karen M. Bauer sold 1,147 shares of Badger Meter stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $209.74, for a total value of $240,571.78. Following the sale, the vice president now directly owns 5,076 shares in the company, valued at approximately $1,064,640.24. The trade was a 18.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,949 shares of company stock worth $4,398,407 in the last 90 days. Company insiders own 0.80% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on BMI. Maxim Group lifted their price objective on Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Stifel Nicolaus lifted their price target on Badger Meter from $208.00 to $209.00 and gave the stock a "hold" rating in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Badger Meter presently has a consensus rating of "Hold" and an average target price of $218.75.

About Badger Meter

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.