Employees Retirement System of Texas maintained its stake in Badger Meter, Inc. (NYSE:BMI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,000 shares of the scientific and technical instruments company’s stock at the end of the second quarter. Employees Retirement System of Texas owned approximately 0.22% of Badger Meter worth $2,550,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of BMI. First Personal Financial Services bought a new position in Badger Meter during the 2nd quarter worth $119,000. SG Americas Securities LLC bought a new position in Badger Meter during the 2nd quarter worth $140,000. Pinebridge Investments L.P. grew its stake in Badger Meter by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 3,836 shares of the scientific and technical instruments company’s stock worth $153,000 after buying an additional 38 shares during the last quarter. Victory Capital Management Inc. grew its stake in Badger Meter by 33.2% during the 1st quarter. Victory Capital Management Inc. now owns 4,475 shares of the scientific and technical instruments company’s stock worth $164,000 after buying an additional 1,116 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Badger Meter during the 1st quarter worth $213,000. Hedge funds and other institutional investors own 83.96% of the company’s stock.
Badger Meter, Inc. (NYSE:BMI) opened at 51.15 on Wednesday. The company has a market cap of $1.49 billion, a PE ratio of 43.35 and a beta of 0.56. Badger Meter, Inc. has a 1-year low of $29.30 and a 1-year high of $51.25. The stock has a 50 day moving average price of $46.99 and a 200 day moving average price of $41.88.
Badger Meter (NYSE:BMI) last posted its earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Badger Meter had a return on equity of 13.19% and a net margin of 8.67%. The business had revenue of $104.17 million during the quarter, compared to the consensus estimate of $108.02 million. During the same quarter last year, the company earned $0.65 EPS. Badger Meter’s revenue was up .3% on a year-over-year basis. Equities analysts forecast that Badger Meter, Inc. will post $1.28 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a $0.13 dividend. This is an increase from Badger Meter’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.02%. Badger Meter’s payout ratio is presently 44.44%.
In other Badger Meter news, Chairman Richard A. Meeusen sold 16,500 shares of Badger Meter stock in a transaction on Friday, August 4th. The stock was sold at an average price of $44.61, for a total value of $736,065.00. Following the completion of the transaction, the chairman now owns 164,620 shares in the company, valued at approximately $7,343,698.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kimberly K. Stoll sold 2,830 shares of Badger Meter stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $45.01, for a total value of $127,378.30. Following the completion of the transaction, the vice president now owns 12,223 shares of the company’s stock, valued at approximately $550,157.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,340 shares of company stock valued at $2,859,651. Corporate insiders own 4.50% of the company’s stock.
A number of research analysts recently commented on BMI shares. Canaccord Genuity restated a “hold” rating and set a $40.00 price objective on shares of Badger Meter in a research note on Friday, October 6th. Zacks Investment Research downgraded Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 20th. BidaskClub upgraded Badger Meter from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Sidoti restated a “buy” rating and set a $52.00 price objective (up from $50.00) on shares of Badger Meter in a research note on Monday, June 19th. Finally, Stifel Nicolaus started coverage on Badger Meter in a research note on Monday, September 18th. They set a “hold” rating and a $43.00 price objective for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $49.33.
Badger Meter Company Profile
Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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