Principal Financial Group Inc. Sells 39,984 Shares of Badger Meter, Inc. (NYSE:BMI)

Principal Financial Group Inc. decreased its position in shares of Badger Meter, Inc. (NYSE:BMIGet Rating) by 17.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 194,944 shares of the scientific and technical instruments company’s stock after selling 39,984 shares during the period. Principal Financial Group Inc. owned 0.67% of Badger Meter worth $15,769,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMI. Nisa Investment Advisors LLC bought a new stake in Badger Meter during the 1st quarter worth approximately $115,000. Mutual of America Capital Management LLC raised its position in shares of Badger Meter by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 4,215 shares of the scientific and technical instruments company’s stock valued at $420,000 after buying an additional 218 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Badger Meter by 72.0% during the first quarter. Commonwealth Equity Services LLC now owns 9,113 shares of the scientific and technical instruments company’s stock valued at $908,000 after buying an additional 3,816 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Badger Meter by 144.6% during the first quarter. Victory Capital Management Inc. now owns 11,472 shares of the scientific and technical instruments company’s stock valued at $926,000 after buying an additional 6,782 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Badger Meter during the first quarter valued at approximately $30,000. Institutional investors own 86.42% of the company’s stock.

Badger Meter Stock Performance

BMI stock opened at $116.79 on Thursday. The firm has a fifty day moving average price of $102.66 and a 200 day moving average price of $92.14. Badger Meter, Inc. has a fifty-two week low of $73.20 and a fifty-two week high of $117.97. The firm has a market cap of $3.42 billion, a PE ratio of 51.68 and a beta of 0.89.

Badger Meter (NYSE:BMIGet Rating) last posted its earnings results on Wednesday, October 19th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Badger Meter had a net margin of 11.96% and a return on equity of 16.04%. The firm had revenue of $148.00 million during the quarter, compared to analyst estimates of $137.78 million. During the same period last year, the firm posted $0.54 earnings per share. Badger Meter’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts predict that Badger Meter, Inc. will post 2.27 EPS for the current year.

Badger Meter Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Friday, November 25th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Wednesday, November 23rd. Badger Meter’s dividend payout ratio (DPR) is presently 39.82%.

Analyst Upgrades and Downgrades

BMI has been the topic of several recent analyst reports. TheStreet upgraded shares of Badger Meter from a “c+” rating to a “b-” rating in a research report on Wednesday, August 3rd. Stifel Nicolaus reduced their price objective on shares of Badger Meter from $94.00 to $93.00 and set a “hold” rating on the stock in a research report on Tuesday, October 11th. Finally, StockNews.com cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Badger Meter presently has a consensus rating of “Hold” and an average target price of $99.33.

About Badger Meter

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Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities.

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

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