Badger Meter, Inc. (NYSE:BMI) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its position in Badger Meter, Inc. (NYSE:BMI) by 27.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 93,251 shares of the scientific and technical instruments company’s stock after purchasing an additional 19,960 shares during the period. Public Sector Pension Investment Board’s holdings in Badger Meter were worth $17,741,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Evergreen Capital Management LLC grew its holdings in Badger Meter by 1.8% in the fourth quarter. Evergreen Capital Management LLC now owns 2,780 shares of the scientific and technical instruments company’s stock valued at $590,000 after purchasing an additional 48 shares during the last quarter. Values First Advisors Inc. grew its holdings in Badger Meter by 0.6% in the first quarter. Values First Advisors Inc. now owns 8,739 shares of the scientific and technical instruments company’s stock valued at $1,663,000 after purchasing an additional 53 shares during the last quarter. Choreo LLC grew its holdings in Badger Meter by 4.6% in the first quarter. Choreo LLC now owns 1,361 shares of the scientific and technical instruments company’s stock valued at $259,000 after purchasing an additional 60 shares during the last quarter. Covestor Ltd grew its holdings in Badger Meter by 7.7% in the first quarter. Covestor Ltd now owns 1,018 shares of the scientific and technical instruments company’s stock valued at $194,000 after purchasing an additional 73 shares during the last quarter. Finally, Cim LLC grew its holdings in Badger Meter by 0.8% in the fourth quarter. Cim LLC now owns 9,747 shares of the scientific and technical instruments company’s stock valued at $2,068,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BMI has been the topic of several recent research reports. Raymond James Financial initiated coverage on Badger Meter in a research report on Tuesday, June 3rd. They issued a “market perform” rating on the stock. Argus set a $240.00 price objective on Badger Meter in a research report on Thursday, April 24th. Royal Bank Of Canada reduced their price objective on Badger Meter from $284.00 to $264.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 price objective on Badger Meter in a research report on Wednesday, July 23rd. Finally, Robert W. Baird upped their price objective on Badger Meter from $216.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Badger Meter has an average rating of “Hold” and an average price target of $238.40.

Badger Meter Trading Up 0.3%

NYSE BMI opened at $188.81 on Tuesday. The business’s 50-day moving average price is $227.55 and its 200 day moving average price is $217.41. Badger Meter, Inc. has a twelve month low of $162.17 and a twelve month high of $256.08. The company has a market capitalization of $5.56 billion, a PE ratio of 41.14, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84.

Badger Meter (NYSE:BMI) last released its earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.02). Badger Meter had a return on equity of 21.57% and a net margin of 15.53%. The business had revenue of $238.10 million for the quarter, compared to analysts’ expectations of $235.38 million. During the same quarter last year, the company posted $1.12 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.8%. This is a boost from Badger Meter’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, August 22nd. Badger Meter’s dividend payout ratio (DPR) is currently 29.63%.

About Badger Meter

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.