Mission Wealth Management LP Buys 219 Shares of Badger Meter, Inc. (NYSE:BMI)

Mission Wealth Management LP grew its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 4.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,076 shares of the scientific and technical instruments company’s stock after acquiring an additional 219 shares during the period. Mission Wealth Management LP’s holdings in Badger Meter were worth $966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BMI. Brighton Jones LLC bought a new stake in Badger Meter during the 4th quarter valued at $227,000. Empowered Funds LLC purchased a new position in shares of Badger Meter during the fourth quarter valued at $826,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Badger Meter in the fourth quarter valued at about $1,615,000. Van ECK Associates Corp lifted its stake in Badger Meter by 68.1% in the fourth quarter. Van ECK Associates Corp now owns 33,395 shares of the scientific and technical instruments company’s stock worth $7,083,000 after acquiring an additional 13,526 shares during the period. Finally, Principal Securities Inc. grew its holdings in Badger Meter by 2,457.1% during the 4th quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 172 shares in the last quarter. Institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Down 0.4%

NYSE:BMI opened at $242.46 on Wednesday. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 53.41, a PEG ratio of 3.49 and a beta of 0.85. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08. The firm has a 50 day moving average of $228.89 and a 200 day moving average of $216.40.

Badger Meter (NYSE:BMI) last announced its earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.22. Badger Meter had a return on equity of 22.35% and a net margin of 15.74%. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $220.39 million. During the same period in the previous year, the business earned $0.99 EPS. As a group, analysts expect that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, May 23rd. Badger Meter’s dividend payout ratio is presently 29.96%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BMI. Raymond James Financial started coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They issued a “market perform” rating for the company. Robert W. Baird reduced their price objective on shares of Badger Meter from $218.00 to $216.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Royal Bank Of Canada increased their target price on Badger Meter from $238.00 to $252.00 and gave the company an “outperform” rating in a research report on Monday, April 21st. Stifel Nicolaus lifted their price target on Badger Meter from $200.00 to $230.00 and gave the company a “hold” rating in a report on Monday. Finally, Argus set a $240.00 price objective on Badger Meter in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $236.60.

Badger Meter Profile

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.