Wellington Management Group LLP Has $5.87 Million Stock Holdings in Badger Meter, Inc. (NYSE:BMI)

Wellington Management Group LLP grew its stake in Badger Meter, Inc. (NYSE:BMI) by 3.6% during the fourth quarter, according to the company in 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 purchasing an additional 1,304 shares during the quarter. Wellington Management Group LLP owned about 0.13% of Badger Meter worth $5,869,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. acquired a new position in Badger Meter in the third quarter valued at about $245,000. Envestnet Asset Management Inc. increased 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 acquiring an additional 41,644 shares during the last quarter. Mariner LLC raised its position in shares of 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 acquiring an additional 88 shares during the period. Stifel Financial Corp boosted 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 acquiring an additional 9,623 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in Badger Meter during the third quarter valued at approximately $411,000. 89.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Badger Meter Stock Performance

NYSE:BMI opened at $186.35 on Friday. The stock has a 50-day simple moving average of $190.28 and a 200 day simple moving average of $167.01. Badger Meter, Inc. has a 52-week low of $134.06 and a 52-week high of $202.81. The company has a market cap of $5.48 billion, a PE ratio of 53.70, a PEG ratio of 3.04 and a beta of 0.81.

Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.17. Badger Meter had a net margin of 13.81% and a return on equity of 20.26%. The company had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $182.25 million. During the same period last year, the business earned $0.66 EPS. The business’s quarterly revenue was up 23.7% on a year-over-year basis. On average, research analysts predict that Badger Meter, Inc. will post 3.89 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

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

About Badger Meter

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.