Wellington Management Group LLP Buys 1,304 Shares of Badger Meter, Inc. (NYSE:BMI)

Wellington Management Group LLP lifted its stake in shares of Badger Meter, Inc. (NYSE:BMIFree Report) by 3.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,017 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,304 shares during the period. Wellington Management Group LLP’s holdings in Badger Meter were worth $5,869,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Badger Meter during the third quarter valued at about $245,000. Envestnet Asset Management Inc. grew its stake in shares of Badger Meter by 90.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 87,832 shares of the scientific and technical instruments company’s stock valued at $12,636,000 after buying an additional 41,644 shares during the period. Mariner LLC increased its position in Badger Meter by 1.8% in the 3rd quarter. Mariner LLC now owns 4,956 shares of the scientific and technical instruments company’s stock valued at $713,000 after buying an additional 88 shares in the last quarter. Stifel Financial Corp raised its stake in Badger Meter by 61.4% during the 3rd quarter. Stifel Financial Corp now owns 25,307 shares of the scientific and technical instruments company’s stock worth $3,641,000 after buying an additional 9,623 shares during the period. Finally, Federated Hermes Inc. bought a new position in Badger Meter in the third quarter worth approximately $411,000. 89.01% of the stock is owned by institutional investors.

Badger Meter Price Performance

Shares of BMI stock opened at $186.35 on Friday. Badger Meter, Inc. has a one year low of $134.06 and a one year high of $202.81. The company has a market cap of $5.48 billion, a P/E ratio of 53.70, a P/E/G ratio of 3.04 and a beta of 0.81. The firm has a 50-day moving average of $190.28 and a 200-day moving average of $167.01.

Badger Meter (NYSE:BMIGet Free Report) last posted its earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.82 by $0.17. The firm had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $182.25 million. Badger Meter had a net margin of 13.81% and a return on equity of 20.26%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 EPS. As a group, research analysts expect that Badger Meter, Inc. will post 3.89 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Thursday, May 23rd. Badger Meter’s dividend payout ratio is presently 31.12%.

Wall Street Analysts Forecast Growth

BMI has been the topic of a number of research reports. Northcoast Research raised Badger Meter from a “sell” rating to a “neutral” rating in a research report on Thursday, April 18th. Stifel Nicolaus raised their price objective on shares of Badger Meter from $147.00 to $175.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Robert W. Baird boosted their target price on shares of Badger Meter from $151.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. StockNews.com cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Finally, Maxim Group boosted their price objective on Badger Meter from $190.00 to $207.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Badger Meter presently has an average rating of “Hold” and an average target price of $170.50.

Read Our Latest Report on BMI

Badger Meter Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Badger Meter (NYSE:BMI)

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