Clean Yield Group reduced its position in shares of Badger Meter Inc. (NYSE:BMI) by 23.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,400 shares of the company’s stock after selling 750 shares during the period. Clean Yield Group’s holdings in Badger Meter were worth $175,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. BlackRock Institutional Trust Company N.A. boosted its stake in Badger Meter by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 383,549 shares of the company’s stock worth $25,510,000 after buying an additional 8,406 shares during the period. Legal & General Group Plc boosted its stake in Badger Meter by 23.6% in the first quarter. Legal & General Group Plc now owns 3,538 shares of the company’s stock worth $235,000 after buying an additional 676 shares during the period. Prudential Financial Inc. boosted its stake in Badger Meter by 3.3% in the first quarter. Prudential Financial Inc. now owns 34,997 shares of the company’s stock worth $2,328,000 after buying an additional 1,120 shares during the period. Aperio Group LLC boosted its stake in Badger Meter by 1.7% in the first quarter. Aperio Group LLC now owns 18,463 shares of the company’s stock worth $1,228,000 after buying an additional 300 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in Badger Meter by 8.7% in the first quarter. UBS Asset Management Americas Inc. now owns 230,575 shares of the company’s stock worth $15,336,000 after buying an additional 18,505 shares during the period. Institutional investors and hedge funds own 39.81% of the company’s stock.
Badger Meter Inc. (NYSE:BMI) traded up 0.09% during trading on Monday, reaching $33.54. The company’s stock had a trading volume of 89,707 shares. The company has a market capitalization of $975.91 million, a PE ratio of 31.06 and a beta of 0.63. Badger Meter Inc. has a 52 week low of $26.40 and a 52 week high of $39.36. The company has a 50 day moving average price of $33.46 and a 200-day moving average price of $34.99.
Badger Meter (NYSE:BMI) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.65 earnings per share for the quarter, hitting the consensus estimate of $0.65. The company earned $102.80 million during the quarter, compared to the consensus estimate of $104.54 million. Badger Meter had a return on equity of 13.19% and a net margin of 7.81%. Badger Meter’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. Equities research analysts anticipate that Badger Meter Inc. will post $1.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.23 per share. This is an increase from Badger Meter’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, August 29th. This represents a $0.92 annualized dividend and a yield of 2.74%. Badger Meter’s dividend payout ratio (DPR) is presently 42.59%.
Separately, Zacks Investment Research raised Badger Meter from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Wednesday, September 21st. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Badger Meter presently has an average rating of “Hold” and an average target price of $31.30.
In other Badger Meter news, VP William R. A. Bergum sold 2,250 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $65.09, for a total transaction of $146,452.50. Following the completion of the transaction, the vice president now owns 4,432 shares of the company’s stock, valued at $288,478.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ronald H. Dix sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $68.72, for a total value of $137,440.00. Following the transaction, the insider now directly owns 28,300 shares of the company’s stock, valued at approximately $1,944,776. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.
About Badger Meter
Badger Meter, Inc is engaged in flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers across the world. The Company’s products, measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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