Bank of America Corp DE boosted its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 89.1% during the first quarter, Holdings Channel reports. The firm owned 55,010 shares of the scientific and technical instruments company’s stock after buying an additional 25,919 shares during the period. Bank of America Corp DE’s holdings in Badger Meter were worth $2,021,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. State of Alaska Department of Revenue increased its position in Badger Meter by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,210 shares of the scientific and technical instruments company’s stock worth $117,000 after buying an additional 60 shares in the last quarter. BB&T Securities LLC increased its position in Badger Meter by 0.5% in the first quarter. BB&T Securities LLC now owns 13,883 shares of the scientific and technical instruments company’s stock worth $510,000 after buying an additional 74 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Badger Meter by 1.3% in the first quarter. Envestnet Asset Management Inc. now owns 7,106 shares of the scientific and technical instruments company’s stock worth $262,000 after buying an additional 93 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Badger Meter by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the scientific and technical instruments company’s stock worth $437,000 after buying an additional 200 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Badger Meter by 1.3% in the first quarter. Arizona State Retirement System now owns 15,194 shares of the scientific and technical instruments company’s stock worth $558,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 84.36% of the company’s stock.

Badger Meter, Inc. (NYSE BMI) traded up 1.38% on Friday, hitting $44.20. 97,803 shares of the stock were exchanged. The company has a 50-day moving average of $42.31 and a 200-day moving average of $38.84. Badger Meter, Inc. has a 12 month low of $29.30 and a 12 month high of $46.85. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 37.46 and a beta of 0.56.

Badger Meter (NYSE:BMI) last released its quarterly earnings data on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Badger Meter had a net margin of 8.67% and a return on equity of 13.19%. The firm had revenue of $104.17 million during the quarter, compared to analysts’ expectations of $108.02 million. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, equities analysts predict that Badger Meter, Inc. will post $1.29 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.18%. This is a boost from Badger Meter’s previous quarterly dividend of $0.12. Badger Meter’s payout ratio is presently 39.32%.

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A number of research analysts have recently weighed in on BMI shares. Canaccord Genuity reissued a “hold” rating and set a $37.00 target price on shares of Badger Meter in a research report on Wednesday, May 24th. Boenning Scattergood reissued a “hold” rating on shares of Badger Meter in a research report on Friday, July 21st. BidaskClub downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Sidoti reissued a “buy” rating and set a $52.00 target price (up from $50.00) on shares of Badger Meter in a research report on Monday, June 19th. Finally, Zacks Investment Research raised shares of Badger Meter from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $42.00.

In other news, VP Richard E. Johnson sold 12,736 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $41.26, for a total transaction of $525,487.36. Following the completion of the transaction, the vice president now directly owns 130,704 shares of the company’s stock, valued at $5,392,847.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ronald H. Dix sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $41.07, for a total transaction of $82,140.00. Following the transaction, the insider now directly owns 43,000 shares of the company’s stock, valued at $1,766,010. The disclosure for this sale can be found here. Insiders have sold 90,776 shares of company stock valued at $3,858,414 over the last three months. 4.50% of the stock is owned by corporate insiders.

About Badger Meter

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

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

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