Badger Meter, Inc. $BMI Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System grew its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,734 shares of the scientific and technical instruments company’s stock after acquiring an additional 100 shares during the period. New York State Teachers Retirement System’s holdings in Badger Meter were worth $2,874,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Golden State Wealth Management LLC boosted its holdings in shares of Badger Meter by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company’s stock valued at $35,000 after buying an additional 92 shares during the period. SBI Securities Co. Ltd. boosted its holdings in shares of 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 during the period. Banque Cantonale Vaudoise acquired a new position in shares of Badger Meter in the 1st quarter valued at about $37,000. Olde Wealth Management LLC acquired a new position in shares of Badger Meter in the 1st quarter valued at about $41,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Badger Meter in the 1st quarter valued at about $67,000. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Price Performance

NYSE BMI opened at $176.66 on Wednesday. The company’s 50 day simple moving average is $180.83 and its 200 day simple moving average is $208.63. Badger Meter, Inc. has a 12 month low of $162.17 and a 12 month high of $256.08. The company has a market capitalization of $5.21 billion, a P/E ratio of 38.49, a PEG ratio of 3.32 and a beta of 0.90.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Tuesday, October 21st. The scientific and technical instruments company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The business had revenue of $235.65 million for the quarter, compared to analyst estimates of $231.88 million. During the same quarter in the previous year, the business earned $1.08 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. On average, analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Increases Dividend

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

Analysts Set New Price Targets

BMI has been the subject of several research reports. Zacks Research raised shares of Badger Meter from a “strong sell” rating to a “hold” rating in a report on Monday, September 22nd. 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 target for the company. Stifel Nicolaus set a $208.00 price target on shares of Badger Meter and gave the company a “hold” rating in a report on Monday. Robert W. Baird set a $205.00 price objective on shares of Badger Meter and gave the company a “neutral” rating in a research report on Monday. Finally, Weiss Ratings downgraded shares of Badger Meter from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $232.00.

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.