Truist Financial Corp Sells 156 Shares of Badger Meter, Inc. (NYSE:BMI)

Truist Financial Corp reduced its position in shares of Badger Meter, Inc. (NYSE:BMI) by 1.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,320 shares of the scientific and technical instruments company’s stock after selling 156 shares during the quarter. Truist Financial Corp’s holdings in Badger Meter were worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Badger Meter by 0.8% in the third quarter. Vanguard Group Inc. now owns 3,614,269 shares of the scientific and technical instruments company’s stock worth $519,985,000 after acquiring an additional 27,763 shares during the last quarter. Invesco Ltd. boosted its holdings in Badger Meter by 8.6% in the 3rd quarter. Invesco Ltd. now owns 1,024,305 shares of the scientific and technical instruments company’s stock valued at $147,367,000 after purchasing an additional 80,979 shares during the period. Bank of New York Mellon Corp grew its position in Badger Meter by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 363,243 shares of the scientific and technical instruments company’s stock worth $52,260,000 after purchasing an additional 2,093 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Badger Meter by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 283,238 shares of the scientific and technical instruments company’s stock worth $40,749,000 after purchasing an additional 17,732 shares during the period. Finally, Boston Trust Walden Corp raised its position in shares of Badger Meter by 0.9% during the fourth quarter. Boston Trust Walden Corp now owns 251,383 shares of the scientific and technical instruments company’s stock valued at $38,806,000 after buying an additional 2,233 shares during the last quarter. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP William R. A. Bergum sold 1,416 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $156.23, for a total transaction of $221,221.68. Following the sale, the vice president now directly owns 13,422 shares of the company’s stock, valued at $2,096,919.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Badger Meter news, VP William R. A. Bergum sold 1,416 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $156.23, for a total transaction of $221,221.68. Following the completion of the sale, the vice president now directly owns 13,422 shares of the company’s stock, valued at approximately $2,096,919.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Fred J. Begale sold 1,203 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $162.92, for a total transaction of $195,992.76. Following the sale, the vice president now owns 2,181 shares of the company’s stock, valued at approximately $355,328.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,813 shares of company stock valued at $448,167. Insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

BMI has been the subject of several recent research reports. Northcoast Research raised Badger Meter from a “sell” rating to a “neutral” rating in a report on Thursday, April 18th. Robert W. Baird raised their target price on Badger Meter from $151.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. Maxim Group boosted their price target on shares of Badger Meter from $190.00 to $207.00 and gave the company a “buy” rating in a report on Friday, April 19th. Stifel Nicolaus raised their price objective on shares of Badger Meter from $147.00 to $175.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, StockNews.com raised shares of Badger Meter from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $164.80.

Badger Meter Stock Up 1.9 %

NYSE:BMI opened at $197.99 on Friday. The firm has a market cap of $5.82 billion, a PE ratio of 57.06, a price-to-earnings-growth ratio of 3.12 and a beta of 0.82. Badger Meter, Inc. has a 12 month low of $134.06 and a 12 month high of $198.11. The company’s 50-day moving average price is $166.76 and its two-hundred day moving average price is $155.40.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.17. The firm had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $182.25 million. Badger Meter had a return on equity of 20.26% and a net margin of 13.81%. The business’s revenue was up 23.7% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. On average, research analysts expect that Badger Meter, Inc. will post 3.89 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, May 23rd. Badger Meter’s payout ratio is presently 31.12%.

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.