Dimensional Fund Advisors LP grew its position in Badger Meter, Inc. (NYSE:BMI) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,121,341 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,388 shares during the quarter. Dimensional Fund Advisors LP owned about 3.85% of Badger Meter worth $52,871,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMI. Schwab Charles Investment Management Inc. grew its holdings in Badger Meter by 3.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 134,633 shares of the scientific and technical instruments company’s stock worth $6,436,000 after purchasing an additional 4,906 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Badger Meter in the fourth quarter worth $480,000. Swiss National Bank lifted its stake in shares of Badger Meter by 3.5% during the fourth quarter. Swiss National Bank now owns 49,600 shares of the scientific and technical instruments company’s stock worth $2,371,000 after buying an additional 1,700 shares during the period. First Trust Advisors LP lifted its stake in shares of Badger Meter by 29.9% during the fourth quarter. First Trust Advisors LP now owns 180,024 shares of the scientific and technical instruments company’s stock worth $8,605,000 after buying an additional 41,479 shares during the period. Finally, Pinebridge Investments L.P. lifted its stake in shares of Badger Meter by 244.0% during the fourth quarter. Pinebridge Investments L.P. now owns 12,430 shares of the scientific and technical instruments company’s stock worth $595,000 after buying an additional 8,817 shares during the period. 83.02% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the stock. ValuEngine downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. Robert W. Baird lowered their price objective on shares of Badger Meter from $48.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, April 19th. Boenning Scattergood reiterated a “hold” rating on shares of Badger Meter in a research note on Wednesday, April 18th. Stifel Nicolaus reiterated a “hold” rating and set a $41.00 price objective (down from $49.00) on shares of Badger Meter in a research note on Thursday, April 19th. Finally, Zacks Investment Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 19th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $49.80.
In related news, CFO Richard E. Johnson sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $44.76, for a total transaction of $447,600.00. Following the completion of the transaction, the chief financial officer now directly owns 95,982 shares in the company, valued at $4,296,154.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.
NYSE:BMI opened at $44.80 on Tuesday. Badger Meter, Inc. has a 12 month low of $39.10 and a 12 month high of $52.10. The firm has a market cap of $1.34 billion, a PE ratio of 40.26, a P/E/G ratio of 3.71 and a beta of 0.67.
Badger Meter (NYSE:BMI) last posted its earnings results on Tuesday, April 17th. The scientific and technical instruments company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business 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%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. research analysts predict that Badger Meter, Inc. will post 1.37 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 31st were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.16%. Badger Meter’s dividend payout ratio is presently 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.
Want to see what other hedge funds are holding BMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Badger Meter, Inc. (NYSE:BMI).
Receive News & Ratings for Badger Meter Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Badger Meter and related companies with MarketBeat.com's FREE daily email newsletter.