Badger Meter Inc. (BMI) Stake Boosted by PineBridge Investments L.P.
PineBridge Investments L.P. boosted its position in Badger Meter Inc. (NYSE:BMI) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,844 shares of the company’s stock after buying an additional 69 shares during the period. PineBridge Investments L.P.’s holdings in Badger Meter were worth $134,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Aperio Group LLC raised its stake in shares of 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. Prudential Financial Inc. raised its stake in shares of 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. BlackRock Inc. raised its stake in shares of 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 during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of 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. Finally, Impax Asset Management LTD raised its stake in shares of Badger Meter by 35.9% in the first quarter. Impax Asset Management LTD now owns 154,633 shares of the company’s stock worth $10,283,000 after buying an additional 40,830 shares during the period. 39.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of Badger Meter Inc. (NYSE:BMI) opened at 33.54 on Tuesday. Badger Meter Inc. has a 52 week low of $26.40 and a 52 week high of $39.36. The stock’s 50 day moving average is $33.46 and its 200-day moving average is $34.99. The company has a market cap of $975.91 million, a price-to-earnings ratio of 31.06 and a beta of 0.63.
Badger Meter (NYSE:BMI) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.65 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.65. The company had revenue of $102.80 million for 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%. Badger Meter’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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 firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid 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 dividend on an annualized basis and a yield of 2.74%. Badger Meter’s dividend payout ratio is presently 42.59%.
Separately, Zacks Investment Research lowered shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a report on Monday, July 18th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Badger Meter has a consensus rating of “Hold” and an average price target of $31.30.
In other news, VP William R. A. Bergum sold 2,250 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $65.09, for a total value of $146,452.50. Following the sale, the vice president now owns 4,432 shares of the company’s stock, valued at $288,478.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ronald H. Dix sold 1,600 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $66.12, for a total transaction of $105,792.00. Following the completion of the sale, the insider now directly owns 25,700 shares in the company, valued at approximately $1,699,284. The disclosure for this sale can be found here. Corporate 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.
Want to see what other hedge funds are holding BMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Badger Meter Inc. (NYSE:BMI).
Receive News & Ratings for Badger Meter Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Badger Meter Inc. and related companies with MarketBeat.com's FREE daily email newsletter.