Triodos Investment Management BV grew its position in shares of Badger Meter, Inc. (NYSE:BMI) by 13.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 130,000 shares of the scientific and technical instruments company’s stock after buying an additional 15,000 shares during the quarter. Badger Meter accounts for approximately 1.8% of Triodos Investment Management BV’s investment portfolio, making the stock its 20th largest holding. Triodos Investment Management BV’s holdings in Badger Meter were worth $6,981,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the business. Invesco Ltd. boosted its stake in shares of Badger Meter by 84.2% in the 2nd quarter. Invesco Ltd. now owns 754,169 shares of the scientific and technical instruments company’s stock valued at $45,016,000 after purchasing an additional 344,641 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Badger Meter by 283.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 347,920 shares of the scientific and technical instruments company’s stock worth $20,767,000 after buying an additional 257,073 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Badger Meter by 645.1% during the 2nd quarter. Royal Bank of Canada now owns 275,963 shares of the scientific and technical instruments company’s stock worth $16,474,000 after buying an additional 238,928 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Badger Meter during the 2nd quarter worth approximately $12,456,000. Finally, Boston Trust Walden Corp purchased a new position in shares of Badger Meter during the 3rd quarter worth approximately $10,958,000. 84.44% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on BMI shares. Stifel Nicolaus cut their target price on Badger Meter from $54.00 to $49.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Maxim Group reissued a “buy” rating and set a $64.00 target price on shares of Badger Meter in a research note on Wednesday, October 16th. ValuEngine downgraded Badger Meter from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised Badger Meter from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Monday, October 21st. Finally, Robert W. Baird increased their target price on Badger Meter from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $57.00.
Shares of BMI stock traded up $1.01 during trading hours on Friday, reaching $59.86. 157,489 shares of the company’s stock were exchanged, compared to its average volume of 163,083. Badger Meter, Inc. has a 1 year low of $46.69 and a 1 year high of $61.58. The company has a market cap of $1.73 billion, a P/E ratio of 38.87 and a beta of 0.78. The company’s 50 day moving average is $55.76 and its two-hundred day moving average is $54.78.
Badger Meter (NYSE:BMI) last released its quarterly earnings data on Thursday, October 17th. The scientific and technical instruments company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Badger Meter had a return on equity of 14.85% and a net margin of 10.95%. The firm had revenue of $108.60 million during the quarter, compared to the consensus estimate of $110.39 million. During the same period last year, the business posted $0.46 EPS. Badger Meter’s quarterly revenue was down 1.8% on a year-over-year basis. Sell-side analysts forecast that Badger Meter, Inc. will post 1.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.14%. Badger Meter’s payout ratio is currently 44.16%.
Badger Meter Company Profile
Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.
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