Rock Point Advisors LLC cut its stake in Badger Meter, Inc. (NYSE:BMI – Free Report) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,700 shares of the scientific and technical instruments company’s stock after selling 100 shares during the quarter. Rock Point Advisors LLC’s holdings in Badger Meter were worth $371,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. FMR LLC grew its stake in Badger Meter by 20.8% in the 3rd quarter. FMR LLC now owns 39,142 shares of the scientific and technical instruments company’s stock valued at $8,549,000 after buying an additional 6,732 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in shares of Badger Meter by 661.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,347 shares of the scientific and technical instruments company’s stock valued at $294,000 after purchasing an additional 1,170 shares during the last quarter. Swedbank AB increased its stake in shares of Badger Meter by 8.5% during the third quarter. Swedbank AB now owns 8,544 shares of the scientific and technical instruments company’s stock worth $1,866,000 after purchasing an additional 671 shares during the period. Algert Global LLC lifted its holdings in Badger Meter by 39.3% during the 3rd quarter. Algert Global LLC now owns 77,333 shares of the scientific and technical instruments company’s stock worth $16,890,000 after purchasing an additional 21,799 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in Badger Meter by 67.0% during the 3rd quarter. Citigroup Inc. now owns 37,976 shares of the scientific and technical instruments company’s stock worth $8,294,000 after purchasing an additional 15,240 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. StockNews.com cut Badger Meter from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their price target on shares of Badger Meter from $189.00 to $203.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Robert W. Baird boosted their price objective on shares of Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Maxim Group raised their target price on shares of Badger Meter from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Badger Meter has an average rating of “Hold” and an average price target of $214.75.
Badger Meter Stock Down 0.7 %
Shares of BMI stock traded down $1.65 during trading hours on Tuesday, reaching $218.59. The company’s stock had a trading volume of 7,610 shares, compared to its average volume of 179,126. Badger Meter, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $230.76. The firm’s 50 day simple moving average is $215.51 and its 200-day simple moving average is $202.28. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 54.66, a PEG ratio of 2.77 and a beta of 0.78.
Badger Meter (NYSE:BMI – Get Free Report) last released its earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). Badger Meter had a net margin of 14.80% and a return on equity of 21.56%. The business had revenue of $208.44 million during the quarter, compared to the consensus estimate of $212.08 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts predict that Badger Meter, Inc. will post 4.19 earnings per share for the current year.
Badger Meter Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.34 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 0.62%. Badger Meter’s payout ratio is 33.75%.
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.
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