Victory Capital Management Inc. increased its position in Badger Meter Inc. (NYSE:BMI) by 77.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,403 shares of the company’s stock after buying an additional 612 shares during the period. Victory Capital Management Inc.’s holdings in Badger Meter were worth $102,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Aperio Group LLC boosted its position 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 in the last quarter. Prudential Financial Inc. boosted its position 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 in the last quarter. BlackRock Inc. boosted its position in Badger Meter by 10.8% in the first quarter. BlackRock Inc. now owns 6,365 shares of the company’s stock worth $423,000 after buying an additional 620 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position 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 in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in Badger Meter during the first quarter worth $452,000. Institutional investors own 39.81% of the company’s stock.
Shares of Badger Meter Inc. (NYSE:BMI) traded down 1.42% during midday trading on Friday, hitting $33.23. 101,129 shares of the stock were exchanged. The firm has a 50-day moving average price of $33.32 and a 200 day moving average price of $34.98. The firm has a market cap of $966.89 million, a PE ratio of 30.77 and a beta of 0.63. Badger Meter Inc. has a 12-month low of $26.40 and a 12-month high of $39.36.
Badger Meter (NYSE:BMI) last announced its earnings results on Thursday, July 21st. The company reported $0.65 EPS for the quarter, meeting analysts’ consensus estimates of $0.65. The business had revenue of $102.80 million for the quarter, compared to analysts’ expectations of $104.54 million. Badger Meter had a net margin of 7.81% and a return on equity of 13.19%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. Analysts predict that Badger Meter Inc. will post $1.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.77%. This is a positive change from Badger Meter’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, August 29th. Badger Meter’s dividend payout ratio (DPR) is 42.59%.
Separately, Zacks Investment Research cut shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 18th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Badger Meter presently has a consensus rating of “Hold” and an average price target of $32.88.
In related news, VP Fred J. Begale sold 1,720 shares of Badger Meter stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $66.00, for a total value of $113,520.00. Following the transaction, the vice president now directly owns 2,336 shares in the company, valued at approximately $154,176. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William R. A. Bergum sold 2,250 shares of Badger Meter stock in a transaction on Monday, September 12th. The shares were 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 in the company, valued at $288,478.88. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
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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