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

Principal Financial Group Inc. reduced its position in Badger Meter, Inc. (NYSE:BMIGet Rating) by 17.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,944 shares of the scientific and technical instruments company’s stock after selling 39,984 shares during the quarter. Principal Financial Group Inc.’s holdings in Badger Meter were worth $15,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in BMI. State Street Corp raised its holdings in shares of Badger Meter by 9.0% in the first quarter. State Street Corp now owns 1,871,969 shares of the scientific and technical instruments company’s stock valued at $186,654,000 after acquiring an additional 154,483 shares in the last quarter. Eaton Vance Management raised its holdings in shares of Badger Meter by 1,077.6% in the first quarter. Eaton Vance Management now owns 99,946 shares of the scientific and technical instruments company’s stock valued at $9,966,000 after acquiring an additional 91,459 shares in the last quarter. Boston Trust Walden Corp raised its holdings in shares of Badger Meter by 30.1% in the second quarter. Boston Trust Walden Corp now owns 316,457 shares of the scientific and technical instruments company’s stock valued at $25,598,000 after acquiring an additional 73,227 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Badger Meter by 137.2% in the first quarter. Goldman Sachs Group Inc. now owns 109,280 shares of the scientific and technical instruments company’s stock worth $10,896,000 after purchasing an additional 63,203 shares in the last quarter. Finally, OLD Second National Bank of Aurora bought a new position in Badger Meter in the first quarter worth about $2,908,000. 86.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Badger Meter Stock Down 0.1 %

BMI opened at $116.79 on Thursday. Badger Meter, Inc. has a 52-week low of $73.20 and a 52-week high of $117.97. The company has a market cap of $3.42 billion, a P/E ratio of 51.68 and a beta of 0.89. The firm’s 50-day moving average price is $102.66 and its 200-day moving average price is $92.14.

Badger Meter (NYSE:BMIGet Rating) last posted its quarterly earnings data on Wednesday, October 19th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $137.78 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, research analysts anticipate that Badger Meter, Inc. will post 2.27 EPS for the current fiscal year.

Badger Meter Announces Dividend

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

Badger Meter Profile

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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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