Bank of Montreal Can lifted its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 21.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,224 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,983 shares during the period. Bank of Montreal Can’s holdings in Badger Meter were worth $670,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of BMI. Advisory Services Network LLC grew its stake in shares of Badger Meter by 182.8% in the 1st quarter. Advisory Services Network LLC now owns 478 shares of the scientific and technical instruments company’s stock valued at $26,000 after purchasing an additional 309 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Badger Meter in the second quarter valued at approximately $101,000. ETF Managers Group LLC boosted its stake in shares of Badger Meter by 10.3% in the first quarter. ETF Managers Group LLC now owns 3,054 shares of the scientific and technical instruments company’s stock valued at $170,000 after buying an additional 284 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Badger Meter in the first quarter valued at approximately $239,000. Finally, Nicolet Advisory Services LLC purchased a new stake in shares of Badger Meter in the first quarter valued at approximately $267,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.
BMI has been the topic of a number of analyst reports. Stifel Nicolaus decreased their price target on Badger Meter from $54.00 to $49.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Robert W. Baird set a $48.00 price objective on Badger Meter and gave the stock a “hold” rating in a report on Friday, July 19th. Zacks Investment Research cut Badger Meter from a “hold” rating to a “sell” rating and set a $60.00 price target for the company. in a report on Tuesday, July 16th. Maxim Group set a $64.00 target price on Badger Meter and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, ValuEngine lowered Badger Meter from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Badger Meter has a consensus rating of “Hold” and an average target price of $55.25.
Shares of NYSE BMI traded up $0.70 on Friday, hitting $52.80. The company had a trading volume of 243,894 shares, compared to its average volume of 160,852. Badger Meter, Inc. has a 12-month low of $46.69 and a 12-month high of $61.57. The business has a 50 day moving average of $52.71 and a two-hundred day moving average of $54.61. The firm has a market capitalization of $1.52 billion, a P/E ratio of 34.29 and a beta of 0.80.
Badger Meter (NYSE:BMI) last released its quarterly earnings results on Thursday, July 18th. The scientific and technical instruments company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.08). Badger Meter had a return on equity of 15.45% and a net margin of 8.57%. The business had revenue of $103.54 million during the quarter, compared to analyst estimates of $117.11 million. During the same quarter last year, the firm posted $0.42 EPS. The company’s revenue was down 8.9% compared to the same quarter last year. Equities research analysts predict that Badger Meter, Inc. will post 1.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.68 annualized dividend and a yield of 1.29%. This is a boost from Badger Meter’s previous quarterly dividend of $0.15. Badger Meter’s dividend payout ratio is presently 44.16%.
About Badger Meter
Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.
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