Truist Financial Corp Buys 17,830 Shares of Badger Meter, Inc. (NYSE:BMI)

Truist Financial Corp raised its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 1,129.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,408 shares of the scientific and technical instruments company's stock after buying an additional 17,830 shares during the period. Truist Financial Corp owned about 0.07% of Badger Meter worth $4,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMI. R Squared Ltd purchased a new stake in Badger Meter during the 4th quarter valued at about $28,000. Principal Securities Inc. lifted its position in Badger Meter by 2,457.1% in the fourth quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company's stock valued at $38,000 after purchasing an additional 172 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Badger Meter during the fourth quarter valued at approximately $39,000. ORG Partners LLC purchased a new stake in shares of Badger Meter during the fourth quarter valued at approximately $42,000. Finally, Blue Trust Inc. increased its stake in shares of Badger Meter by 1,016.7% in the third quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company's stock worth $44,000 after buying an additional 183 shares during the period. 89.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BMI has been the subject of several analyst reports. Maxim Group increased their price target on shares of Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Stifel Nicolaus raised their target price 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $218.75.

Badger Meter Stock Up 1.1 %

Shares of BMI traded up $2.27 during trading hours on Friday, reaching $209.97. 213,780 shares of the company traded hands, compared to its average volume of 211,203. Badger Meter, Inc. has a 12 month low of $150.87 and a 12 month high of $239.11. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 49.64, a price-to-earnings-growth ratio of 3.89 and a beta of 0.78. The company's fifty day moving average price is $214.06 and its two-hundred day moving average price is $213.36.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data 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, analysts expect that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.34 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.36 annualized dividend and a yield of 0.65%. Badger Meter's payout ratio is 32.15%.

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.