Badger Meter, Inc. (NYSE:BMI) Stake Raised by Cardinal Capital Management

Cardinal Capital Management grew its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,009 shares of the scientific and technical instruments company’s stock after purchasing an additional 149 shares during the period. Cardinal Capital Management owned approximately 0.07% of Badger Meter worth $4,669,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Truist Financial Corp increased its holdings in shares of Badger Meter by 1,129.9% in the fourth quarter. Truist Financial Corp now owns 19,408 shares of the scientific and technical instruments company’s stock valued at $4,117,000 after buying an additional 17,830 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Badger Meter by 3.7% in the 4th quarter. Principal Financial Group Inc. now owns 151,486 shares of the scientific and technical instruments company’s stock worth $32,133,000 after acquiring an additional 5,353 shares during the last quarter. Principal Securities Inc. raised its position in shares of Badger Meter by 2,457.1% during the fourth quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 172 shares during the period. Congress Asset Management Co. lifted its holdings in shares of Badger Meter by 23.1% during the fourth quarter. Congress Asset Management Co. now owns 363,164 shares of the scientific and technical instruments company’s stock valued at $77,034,000 after purchasing an additional 68,137 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Badger Meter by 68.1% in the 4th quarter. Van ECK Associates Corp now owns 33,395 shares of the scientific and technical instruments company’s stock valued at $7,083,000 after purchasing an additional 13,526 shares during the period. Institutional investors and hedge funds own 89.01% of the company’s stock.

Analyst Upgrades and Downgrades

BMI has been the topic of several recent analyst reports. Maxim Group boosted their price objective on Badger Meter from $235.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Stifel Nicolaus lifted their target price on shares of Badger Meter from $208.00 to $209.00 and gave the stock a “hold” rating in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $218.75.

Badger Meter Stock Performance

Shares of NYSE BMI opened at $217.01 on Tuesday. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 51.30, a PEG ratio of 3.85 and a beta of 0.78. The business has a 50 day simple moving average of $216.60 and a 200 day simple moving average of $212.46. Badger Meter, Inc. has a 52 week low of $150.87 and a 52 week high of $239.11.

Badger Meter (NYSE:BMI) last posted its earnings results on Friday, January 31st. The scientific and technical instruments company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. On average, analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.63%. Badger Meter’s payout ratio is 32.15%.

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.