Ameriprise Financial Inc. Has $5,106,000 Position in Badger Meter Inc. (BMI)
Ameriprise Financial Inc. increased its position in Badger Meter Inc. (NYSE:BMI) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 69,915 shares of the company’s stock after buying an additional 2,550 shares during the period. Ameriprise Financial Inc. owned 0.48% of Badger Meter worth $5,106,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Kleinwort Benson Investors Dublin Ltd bought a new stake in shares of Badger Meter during the second quarter worth approximately $1,442,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of 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 in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Badger Meter by 8.7% in the first quarter. UBS Asset Management Americas Inc. now owns 230,575 shares of the company’s stock worth $15,336,000 after buying an additional 18,505 shares in the last quarter. Capital Fund Management S.A. bought a new stake in shares of Badger Meter during the second quarter worth approximately $752,000. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Badger Meter during the second quarter worth approximately $715,000. Hedge funds and other institutional investors own 39.81% of the company’s stock.
Badger Meter Inc. (NYSE:BMI) traded up 0.98% during trading on Friday, hitting $33.06. 83,151 shares of the company were exchanged. Badger Meter Inc. has a 1-year low of $26.40 and a 1-year high of $39.36. The stock has a market capitalization of $961.95 million, a PE ratio of 30.61 and a beta of 0.63. The firm’s 50 day moving average price is $33.19 and its 200-day moving average price is $34.98.
Badger Meter (NYSE:BMI) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.65 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.65. Badger Meter had a net margin of 7.81% and a return on equity of 13.19%. The company earned $102.80 million during the quarter, compared to analyst estimates of $104.54 million. During the same period in the prior year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts predict that Badger Meter Inc. will post $1.19 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.23 dividend. The ex-dividend date of this dividend was Monday, August 29th. This is a positive change from Badger Meter’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a yield of 2.78%. Badger Meter’s dividend payout ratio is 42.59%.
Separately, Zacks Investment Research upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Wednesday, September 21st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Badger Meter currently has a consensus rating of “Hold” and an average price target of $32.88.
In other Badger Meter news, VP Fred J. Begale sold 1,720 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $66.00, for a total transaction of $113,520.00. Following the completion of the sale, the vice president now directly owns 2,336 shares of the company’s stock, valued at $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 the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $65.09, for a total transaction of $146,452.50. Following the sale, the vice president now directly owns 4,432 shares of the company’s stock, 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.
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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