Badger Meter, Inc. (NYSE:BMI – Get Free Report) declared a quarterly dividend on Friday, February 9th, RTT News reports. Investors of record on Friday, February 23rd will be given a dividend of 0.27 per share by the scientific and technical instruments company on Friday, March 8th. This represents a $1.08 annualized dividend and a yield of 0.72%.
Badger Meter has increased its dividend payment by an average of 12.3% annually over the last three years and has increased its dividend every year for the last 31 years. Badger Meter has a payout ratio of 27.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Badger Meter to earn $3.79 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 28.5%.
Badger Meter Stock Performance
Shares of Badger Meter stock opened at $149.88 on Friday. The company’s 50 day moving average price is $150.77 and its 200-day moving average price is $151.78. Badger Meter has a 52-week low of $112.46 and a 52-week high of $170.86. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 47.73, a P/E/G ratio of 3.51 and a beta of 0.85.
Analyst Ratings Changes
Several analysts have commented on BMI shares. StockNews.com lowered shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Stifel Nicolaus lifted their price target on Badger Meter from $142.00 to $147.00 and gave the company a “hold” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $147.50.
Institutional Trading of Badger Meter
Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its stake in Badger Meter by 15.7% during the 1st quarter. American Century Companies Inc. now owns 5,764 shares of the scientific and technical instruments company’s stock valued at $575,000 after purchasing an additional 780 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Badger Meter by 9.1% during the first quarter. HighTower Advisors LLC now owns 5,393 shares of the scientific and technical instruments company’s stock valued at $537,000 after acquiring an additional 449 shares in the last quarter. Citigroup Inc. raised its holdings in Badger Meter by 6.1% in the 1st quarter. Citigroup Inc. now owns 29,408 shares of the scientific and technical instruments company’s stock worth $2,933,000 after acquiring an additional 1,685 shares during the last quarter. Bank of Montreal Can lifted its position in Badger Meter by 12.7% in the 1st quarter. Bank of Montreal Can now owns 13,216 shares of the scientific and technical instruments company’s stock valued at $1,332,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Badger Meter during the 1st quarter valued at $291,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.
About Badger Meter
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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