Badger Meter, Inc. $BMI Position Boosted by Truist Financial Corp

Truist Financial Corp increased its holdings in Badger Meter, Inc. (NYSE:BMI) by 4.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,784 shares of the scientific and technical instruments company’s stock after buying an additional 1,088 shares during the quarter. Truist Financial Corp owned about 0.08% of Badger Meter worth $6,071,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BMI. Golden State Wealth Management LLC grew its stake in shares of Badger Meter by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 92 shares in the last quarter. SBI Securities Co. Ltd. grew its position in Badger Meter by 83.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company’s stock valued at $37,000 after buying an additional 88 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Badger Meter in the 1st quarter valued at about $37,000. Olde Wealth Management LLC bought a new position in Badger Meter in the 1st quarter valued at about $41,000. Finally, Global X Japan Co. Ltd. bought a new position in Badger Meter in the 1st quarter valued at about $45,000. 89.01% of the stock is owned by institutional investors.

Badger Meter Stock Down 0.0%

NYSE:BMI opened at $180.93 on Tuesday. Badger Meter, Inc. has a 1-year low of $162.17 and a 1-year high of $256.08. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 39.42, a price-to-earnings-growth ratio of 3.20 and a beta of 0.90. The stock has a fifty day simple moving average of $182.88 and a 200 day simple moving average of $209.66.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.02). Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The company had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.38 million. During the same quarter last year, the business earned $1.12 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Badger Meter’s previous quarterly dividend of $0.34. Badger Meter’s dividend payout ratio (DPR) is 34.86%.

Wall Street Analyst Weigh In

BMI has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Badger Meter in a report on Tuesday, September 9th. They issued an “overweight” rating and a $230.00 price objective for the company. Stifel Nicolaus set a $224.00 price target on Badger Meter in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Badger Meter in a research note on Saturday, September 27th. Royal Bank Of Canada decreased their price target on Badger Meter from $284.00 to $264.00 and set an “outperform” rating for the company in a research note on Wednesday, July 23rd. Finally, Zacks Research raised Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, September 22nd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.00.

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.