Badger Meter, Inc. (NYSE:BMI) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Badger Meter, Inc. (NYSE:BMI) by 7.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 337,391 shares of the scientific and technical instruments company’s stock after purchasing an additional 22,160 shares during the quarter. Bank of New York Mellon Corp’s holdings in Badger Meter were worth $62,873,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. SYSTM Wealth Solutions LLC lifted its stake in Badger Meter by 9.8% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 615 shares of the scientific and technical instruments company’s stock valued at $100,000 after buying an additional 55 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of Badger Meter by 4.2% during the second quarter. Portside Wealth Group LLC now owns 1,377 shares of the scientific and technical instruments company’s stock valued at $257,000 after acquiring an additional 55 shares during the last quarter. Farrow Financial Inc. lifted its position in shares of Badger Meter by 0.4% in the second quarter. Farrow Financial Inc. now owns 20,064 shares of the scientific and technical instruments company’s stock valued at $3,739,000 after acquiring an additional 85 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Badger Meter by 5.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,796 shares of the scientific and technical instruments company’s stock worth $277,000 after acquiring an additional 94 shares during the last quarter. Finally, Argus Investors Counsel Inc. increased its position in shares of Badger Meter by 4.8% during the second quarter. Argus Investors Counsel Inc. now owns 2,401 shares of the scientific and technical instruments company’s stock worth $447,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Argus raised their price objective on Badger Meter from $204.00 to $218.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Robert W. Baird raised their price target on shares of Badger Meter from $180.00 to $184.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Stifel Nicolaus upped their price objective on shares of Badger Meter from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Finally, StockNews.com lowered shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $184.20.

Insider Buying and Selling

In other Badger Meter news, VP Kimberly K. Stoll sold 1,097 shares of Badger Meter stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $205.00, for a total value of $224,885.00. Following the sale, the vice president now owns 3,861 shares in the company, valued at $791,505. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by company insiders.

Badger Meter Stock Up 1.3 %

NYSE BMI opened at $206.79 on Friday. The business’s fifty day simple moving average is $195.85 and its 200-day simple moving average is $181.40. The firm has a market cap of $6.08 billion, a PE ratio of 59.59, a P/E/G ratio of 2.78 and a beta of 0.78. Badger Meter, Inc. has a 52 week low of $134.06 and a 52 week high of $210.29.

Badger Meter (NYSE:BMI) last issued its earnings results on Friday, July 19th. The scientific and technical instruments company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. The company had revenue of $216.70 million for the quarter, compared to the consensus estimate of $203.39 million. Badger Meter had a net margin of 14.44% and a return on equity of 21.42%. Badger Meter’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 earnings per share. Research analysts expect that Badger Meter, Inc. will post 4.06 EPS for the current year.

Badger Meter Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be issued a $0.34 dividend. The ex-dividend date is Friday, August 23rd. This is a boost from Badger Meter’s previous quarterly dividend of $0.27. This represents a $1.36 dividend on an annualized basis and a yield of 0.66%. Badger Meter’s dividend payout ratio is currently 39.19%.

Badger Meter Company 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.