US Bancorp DE Sells 2,020 Shares of Badger Meter, Inc. (NYSE:BMI)

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US Bancorp DE reduced its position in shares of Badger Meter, Inc. (NYSE:BMI) by 3.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,243 shares of the scientific and technical instruments company’s stock after selling 2,020 shares during the quarter. US Bancorp DE’s holdings in Badger Meter were worth $2,940,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Pinebridge Investments L.P. increased its stake in Badger Meter by 9.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 22,520 shares of the scientific and technical instruments company’s stock valued at $1,345,000 after purchasing an additional 2,018 shares in the last quarter. RK Capital Management LLC bought a new stake in Badger Meter during the 2nd quarter valued at about $2,388,000. Impax Asset Management Group plc increased its stake in Badger Meter by 1.9% during the 2nd quarter. Impax Asset Management Group plc now owns 1,341,918 shares of the scientific and technical instruments company’s stock valued at $80,099,000 after purchasing an additional 24,465 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Badger Meter during the 2nd quarter valued at about $62,000. Finally, Northern Trust Corp increased its stake in Badger Meter by 2.3% during the 2nd quarter. Northern Trust Corp now owns 408,701 shares of the scientific and technical instruments company’s stock valued at $24,396,000 after purchasing an additional 9,149 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Shares of NYSE BMI traded down $0.05 during trading on Friday, reaching $54.57. 222,214 shares of the company traded hands, compared to its average volume of 164,442. The firm has a 50 day simple moving average of $52.74 and a 200-day simple moving average of $55.01. The stock has a market capitalization of $1.58 billion, a PE ratio of 35.44 and a beta of 0.80. Badger Meter, Inc. has a 52-week low of $46.69 and a 52-week high of $61.57.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Thursday, July 18th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.08). The company had revenue of $103.54 million for the quarter, compared to analysts’ expectations of $117.11 million. Badger Meter had a net margin of 8.57% and a return on equity of 15.45%. The business’s revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. As a group, equities research analysts forecast that Badger Meter, Inc. will post 1.55 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, August 29th. This is an increase from Badger Meter’s previous quarterly dividend of $0.15. Badger Meter’s dividend payout ratio (DPR) is presently 44.16%.

A number of brokerages have recently issued reports on BMI. Maxim Group set a $64.00 price target on shares of Badger Meter and gave the company a “buy” rating in a report on Friday, July 19th. Robert W. Baird set a $48.00 price target on shares of Badger Meter and gave the company a “hold” rating in a report on Friday, July 19th. Stifel Nicolaus dropped their price target on shares of Badger Meter from $54.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Finally, Zacks Investment Research downgraded shares of Badger Meter from a “hold” rating to a “sell” rating and set a $60.00 price target on the stock. in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $52.80.

About Badger Meter

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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Institutional Ownership by Quarter for Badger Meter (NYSE:BMI)

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