California Public Employees Retirement System raised its position in Badger Meter Inc. (NYSE:BMI) by 10.8% during the second quarter, Holdings Channel reports. The fund owned 53,500 shares of the company’s stock after buying an additional 5,200 shares during the period. California Public Employees Retirement System owned about 0.37% of Badger Meter worth $3,907,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new position in Badger Meter during the second quarter worth about $715,000. Kleinwort Benson Investors Dublin Ltd acquired a new position in Badger Meter during the second quarter worth about $1,442,000. Swiss National Bank increased its position in Badger Meter by 2.1% in the second quarter. Swiss National Bank now owns 23,900 shares of the company’s stock worth $1,745,000 after buying an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Badger Meter by 46.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,400 shares of the company’s stock worth $4,265,000 after buying an additional 18,634 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. increased its position in Badger Meter by 11.1% in the second quarter. Bbva Compass Bancshares Inc. now owns 16,590 shares of the company’s stock worth $1,212,000 after buying an additional 1,662 shares during the last quarter. 79.64% of the stock is currently owned by institutional investors.

Badger Meter Inc. (NYSE:BMI) traded up 2.33% during midday trading on Thursday, reaching $34.24. 135,126 shares of the company’s stock were exchanged. Badger Meter Inc. has a 52 week low of $26.40 and a 52 week high of $39.36. The firm’s 50 day moving average is $33.76 and its 200 day moving average is $34.99. The firm has a market capitalization of $996.28 million, a price-to-earnings ratio of 31.70 and a beta of 0.80.

Badger Meter (NYSE:BMI) last announced its earnings results on Thursday, July 21st. The company reported $0.65 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.65. The business earned $102.80 million during the quarter, compared to the consensus estimate of $104.54 million. Badger Meter had a net margin of 7.81% and a return on equity of 13.19%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. On average, equities analysts anticipate that Badger Meter Inc. will post $1.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.23 per share. The ex-dividend date was Monday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.69%. This is an increase from Badger Meter’s previous quarterly dividend of $0.20. Badger Meter’s dividend payout ratio is 42.59%.

Separately, Zacks Investment Research raised shares of Badger Meter from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Wednesday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.30.

In related news, insider Ronald H. Dix sold 1,600 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $66.12, for a total value of $105,792.00. Following the sale, the insider now owns 25,700 shares in the company, valued at $1,699,284. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Fred J. Begale sold 1,720 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 2,336 shares in the company, valued at approximately $154,176. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Badger Meter Company Profile

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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