Citigroup Inc. Increases Holdings in Badger Meter, Inc. (NYSE:BMI)

Citigroup Inc. increased its holdings in shares of Badger Meter, Inc. (NYSE:BMI – Get Rating) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,282 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,151 shares during the period. Citigroup Inc. owned 0.08% of Badger Meter worth $2,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in Badger Meter by 59.9% in the 4th quarter. Signaturefd LLC now owns 283 shares of the scientific and technical instruments company’s stock valued at $31,000 after buying an additional 106 shares during the last quarter. Quadrant Capital Group LLC boosted its position in 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 valued at $35,000 after buying an additional 323 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Badger Meter in the 3rd quarter valued at about $41,000. Standard Family Office LLC purchased a new position in Badger Meter in the 3rd quarter valued at about $55,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Badger Meter by 9.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,106 shares of the scientific and technical instruments company’s stock valued at $102,000 after buying an additional 97 shares during the last quarter. 86.21% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Stock Down 0.7 %

BMI opened at $139.94 on Wednesday. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 57.35 and a beta of 0.88. Badger Meter, Inc. has a fifty-two week low of $73.20 and a fifty-two week high of $143.37. The company’s 50-day moving average price is $127.68 and its 200 day moving average price is $119.62.

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

Badger Meter Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Friday, May 26th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $0.90 annualized dividend and a yield of 0.64%. Badger Meter’s dividend payout ratio (DPR) is 36.89%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BMI shares. Maxim Group upped their price objective on shares of 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 upped their target price on shares of Badger Meter from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Monday, April 17th. Stifel Nicolaus upped their target price on shares of Badger Meter from $108.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, April 17th. StockNews.com initiated coverage on shares of Badger Meter in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, Argus upped their target price on shares of Badger Meter from $130.00 to $151.00 in a research note on Monday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $121.40.

Insider Buying and Selling at Badger Meter

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

Badger Meter Profile

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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.