Badger Meter, Inc. (NYSE:BMI) Shares Sold by Monument Capital Management

Monument Capital Management decreased its stake in Badger Meter, Inc. (NYSE:BMI) by 3.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,104 shares of the scientific and technical instruments company’s stock after selling 471 shares during the quarter. Monument Capital Management owned approximately 0.05% of Badger Meter worth $2,444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. River Street Advisors LLC boosted its position in Badger Meter by 4.9% in the 1st quarter. River Street Advisors LLC now owns 3,528 shares of the scientific and technical instruments company’s stock worth $571,000 after purchasing an additional 165 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Badger Meter by 29.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 19,672 shares of the scientific and technical instruments company’s stock worth $3,183,000 after purchasing an additional 4,426 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Badger Meter by 7.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,179 shares of the scientific and technical instruments company’s stock worth $514,000 after purchasing an additional 213 shares in the last quarter. Cardinal Capital Management grew its holdings in Badger Meter by 7.8% in the first quarter. Cardinal Capital Management now owns 21,082 shares of the scientific and technical instruments company’s stock valued at $3,411,000 after purchasing an additional 1,518 shares during the period. Finally, Bridge City Capital LLC increased its position in shares of Badger Meter by 39.6% in the first quarter. Bridge City Capital LLC now owns 15,351 shares of the scientific and technical instruments company’s stock valued at $2,484,000 after buying an additional 4,351 shares in the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BMI. Robert W. Baird increased their target price on Badger Meter from $151.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. StockNews.com cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Maxim Group boosted their price objective on Badger Meter from $190.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Stifel Nicolaus upped their target price on Badger Meter from $147.00 to $175.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Northcoast Research upgraded Badger Meter from a “sell” rating to a “neutral” rating in a report on Thursday, April 18th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $170.50.

Badger Meter Price Performance

BMI traded up $1.72 during trading hours on Wednesday, reaching $188.57. The company’s stock had a trading volume of 42,179 shares, compared to its average volume of 181,342. The stock has a market cap of $5.54 billion, a PE ratio of 53.85, a P/E/G ratio of 3.04 and a beta of 0.78. Badger Meter, Inc. has a fifty-two week low of $134.06 and a fifty-two week high of $202.81. The business’s 50-day moving average is $190.36 and its 200-day moving average is $167.63.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.82 by $0.17. The business had revenue of $196.80 million for the quarter, compared to analyst estimates of $182.25 million. Badger Meter had a return on equity of 20.26% and a net margin of 13.81%. The company’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS. Analysts expect that Badger Meter, Inc. will post 3.94 EPS for the current year.

Badger Meter Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, May 23rd. Badger Meter’s dividend payout ratio (DPR) is presently 31.12%.

Badger Meter Profile

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.