Dorsey & Whitney Trust CO LLC trimmed its position in Badger Meter, Inc. (NYSE:BMI) by 4.6% in the first quarter, Holdings Channel reports. The institutional investor owned 72,141 shares of the scientific and technical instruments company’s stock after selling 3,510 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Badger Meter were worth $3,401,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of BMI. SG Americas Securities LLC acquired a new stake in shares of Badger Meter in the first quarter worth $163,000. Appleton Group LLC acquired a new stake in shares of Badger Meter in the fourth quarter worth $203,000. Manchester Capital Management LLC lifted its stake in shares of Badger Meter by 2,965.0% in the first quarter. Manchester Capital Management LLC now owns 6,130 shares of the scientific and technical instruments company’s stock worth $289,000 after buying an additional 5,930 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Badger Meter by 37.4% in the first quarter. Victory Capital Management Inc. now owns 6,497 shares of the scientific and technical instruments company’s stock worth $306,000 after buying an additional 1,767 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Badger Meter by 39.8% in the fourth quarter. Raymond James & Associates now owns 6,789 shares of the scientific and technical instruments company’s stock worth $325,000 after buying an additional 1,933 shares during the last quarter. Institutional investors and hedge funds own 86.87% of the company’s stock.
In related news, Director Gale E. Klappa sold 12,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $50.16, for a total transaction of $601,920.00. Following the completion of the transaction, the director now directly owns 27,723 shares in the company, valued at approximately $1,390,585.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kimberly K. Stoll sold 2,040 shares of the stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $48.47, for a total transaction of $98,878.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,593 shares of company stock valued at $1,755,413. Corporate insiders own 2.80% of the company’s stock.
A number of analysts have recently weighed in on the stock. Canaccord Genuity cut shares of Badger Meter from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $48.00 to $42.00 in a research note on Tuesday, February 27th. Zacks Investment Research upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Thursday, January 18th. Stifel Nicolaus restated a “hold” rating and issued a $51.00 price objective (up from $45.00) on shares of Badger Meter in a research note on Tuesday, January 16th. Robert W. Baird boosted their price objective on shares of Badger Meter from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Finally, Boenning Scattergood restated a “hold” rating on shares of Badger Meter in a research note on Wednesday, April 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $49.40.
Badger Meter opened at $43.30 on Tuesday, Marketbeat.com reports. The firm has a market cap of $1.30 billion, a P/E ratio of 39.17 and a beta of 0.67. Badger Meter, Inc. has a one year low of $43.45 and a one year high of $44.65.
Badger Meter (NYSE:BMI) last released its earnings results on Tuesday, April 17th. The scientific and technical instruments company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.11). The company had revenue of $105.04 million for the quarter, compared to analyst estimates of $107.17 million. Badger Meter had a net margin of 8.22% and a return on equity of 12.11%. Badger Meter’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 earnings per share. equities analysts predict that Badger Meter, Inc. will post 1.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.20%. The ex-dividend date is Wednesday, May 30th. Badger Meter’s payout ratio is currently 43.70%.
Badger Meter Profile
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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