97,048 Shares in Badger Meter, Inc. (NYSE:BMI) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in Badger Meter, Inc. (NYSE:BMI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 97,048 shares of the scientific and technical instruments company's stock, valued at approximately $20,586,000. Raymond James Financial Inc. owned about 0.33% of Badger Meter as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Badger Meter during the 4th quarter worth approximately $28,000. Principal Securities Inc. increased its stake in shares of Badger Meter by 2,457.1% in the 4th quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company's stock worth $38,000 after acquiring an additional 172 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Badger Meter during the 4th quarter worth $39,000. ORG Partners LLC purchased a new position in shares of Badger Meter during the 4th quarter worth $42,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Badger Meter by 261.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 597 shares of the scientific and technical instruments company's stock worth $128,000 after purchasing an additional 432 shares during the period. Hedge funds and other institutional investors own 89.01% of the company's stock.

Insider Activity at Badger Meter

In other Badger Meter news, VP Karen M. Bauer sold 1,147 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total transaction of $240,571.78. Following the completion of the sale, the vice president now owns 5,076 shares in the company, valued at $1,064,640.24. This trade represents a 18.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth Bockhorst sold 16,073 shares of the firm's 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 $3,371,151.02. Following the sale, the chief executive officer now owns 34,961 shares of the company's stock, valued at approximately $7,332,720.14. This trade represents a 31.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,949 shares of company stock valued at $4,398,407 over the last quarter. Insiders own 0.80% of the company's stock.

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Badger Meter Stock Up 0.9 %

BMI stock traded up $1.69 on Wednesday, reaching $198.67. 9,595 shares of the company's stock were exchanged, compared to its average volume of 177,891. The stock has a fifty day moving average of $211.40 and a 200-day moving average of $213.83. Badger Meter, Inc. has a twelve month low of $151.18 and a twelve month high of $239.11. The firm has a market cap of $5.84 billion, a PE ratio of 46.92, a P/E/G ratio of 3.89 and a beta of 0.83.

Badger Meter (NYSE:BMI - Get Free Report) last posted its earnings results on Friday, January 31st. The scientific and technical instruments company reported $1.04 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, February 28th. Badger Meter's payout ratio is currently 32.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Maxim Group increased their price target on Badger Meter from $235.00 to $245.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Stifel Nicolaus upped their price target on Badger Meter from $208.00 to $209.00 and gave the company a "hold" rating in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $218.75.

Badger Meter Profile

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.