Principal Financial Group Inc. Sells 2,517 Shares of Badger Meter, Inc. (NYSE:BMI)

Principal Financial Group Inc. trimmed its holdings in shares of Badger Meter, Inc. (NYSE:BMI – Get Rating) by 1.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 183,201 shares of the scientific and technical instruments company’s stock after selling 2,517 shares during the quarter. Principal Financial Group Inc.’s holdings in Badger Meter were worth $19,974,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMI. Signaturefd LLC lifted its holdings in shares of Badger Meter by 59.9% in the 4th quarter. Signaturefd LLC now owns 283 shares of the scientific and technical instruments company’s stock worth $31,000 after purchasing an additional 106 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Badger Meter by 576.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 379 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 323 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Badger Meter in the 3rd quarter worth $41,000. Standard Family Office LLC bought a new position in shares of Badger Meter in the 3rd quarter worth $55,000. Finally, Strs Ohio lifted its holdings in shares of Badger Meter by 900.0% in the 3rd quarter. Strs Ohio now owns 1,000 shares of the scientific and technical instruments company’s stock worth $92,000 after purchasing an additional 900 shares in the last quarter. 86.21% of the stock is currently owned by institutional investors.

Badger Meter Stock Performance

Shares of BMI stock opened at $142.37 on Monday. Badger Meter, Inc. has a fifty-two week low of $73.20 and a fifty-two week high of $143.37. The stock has a 50 day moving average price of $126.74 and a two-hundred day moving average price of $119.18. The company has a market capitalization of $4.17 billion, a P/E ratio of 58.35 and a beta of 0.88.

Badger Meter (NYSE:BMI – Get Rating) last announced its quarterly earnings data on Thursday, April 20th. The scientific and technical instruments company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.11. Badger Meter had a return on equity of 16.45% and a net margin of 12.08%. The firm had revenue of $159.10 million during the quarter, compared to the consensus estimate of $142.73 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The business’s revenue was up 20.2% on a year-over-year basis. As a group, equities analysts predict that Badger Meter, Inc. will post 2.69 earnings per share for the current year.

Badger Meter Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Friday, May 26th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.63%. Badger Meter’s dividend payout ratio is presently 36.89%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BMI. Argus raised their target price on Badger Meter from $130.00 to $151.00 in a research report on Monday, April 24th. Stifel Nicolaus raised their target price on Badger Meter from $108.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, April 17th. Maxim Group raised their target price on Badger Meter from $135.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, April 21st. Robert W. Baird raised their target price on Badger Meter from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, April 17th. Finally, StockNews.com initiated coverage on Badger Meter in a research report on Thursday. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Badger Meter currently has an average rating of “Hold” and an average target price of $121.40.

Insider Activity at Badger Meter

In related news, VP Fred J. Begale sold 385 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $119.73, for a total transaction of $46,096.05. Following the completion of the transaction, the vice president now owns 2,863 shares in the company, valued at $342,786.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Badger Meter news, VP Kimberly K. Stoll sold 1,620 shares of the stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $120.88, for a total value of $195,825.60. Following the completion of the transaction, the vice president now owns 4,413 shares in the company, valued at $533,443.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Fred J. Begale sold 385 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $119.73, for a total value of $46,096.05. Following the completion of the transaction, the vice president now owns 2,863 shares of the company’s stock, valued at approximately $342,786.99. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Badger Meter Company Profile

(Get Rating)

Badger Meter, Inc engages in the provision of flow measurement, control products, and communications solutions that serve water utilities, municipalities, and commercial and industrial customers worldwide. Its products are classified into two categories: Municipal Water and Flow Instrumentation. Municipal water products include water meters and related technologies to municipal water utilities.