Candriam S.C.A. decreased its stake in Badger Meter, Inc. (NYSE:BMI – Free Report) by 18.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,101 shares of the scientific and technical instruments company’s stock after selling 7,259 shares during the period. Candriam S.C.A.’s holdings in Badger Meter were worth $4,104,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of BMI. XXEC Inc. purchased a new stake in shares of Badger Meter during the 2nd quarter valued at about $825,029,000. BlackRock Inc. purchased a new position in Badger Meter in the 2nd quarter worth approximately $725,926,000. Pictet Asset Management Holding SA boosted its holdings in Badger Meter by 26.7% in the 3rd quarter. Pictet Asset Management Holding SA now owns 727,797 shares of the scientific and technical instruments company’s stock worth $89,920,000 after acquiring an additional 153,320 shares during the period. Amundi boosted its holdings in Badger Meter by 28.5% in the 2nd quarter. Amundi now owns 590,079 shares of the scientific and technical instruments company’s stock worth $87,595,000 after acquiring an additional 131,016 shares during the period. Finally, First Trust Advisors LP grew its position in Badger Meter by 54.8% in the first quarter. First Trust Advisors LP now owns 560,356 shares of the scientific and technical instruments company’s stock valued at $85,370,000 after acquiring an additional 198,430 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.
Wall Street Analysts Forecast Growth
BMI has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Badger Meter in a research note on Monday, October 26th. Northcoast Research cut shares of Badger Meter from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 27th. Stifel Nicolaus set a $168.00 target price on shares of Badger Meter in a research note on Friday, October 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $187.00 target price (up from $162.00) on shares of Badger Meter in a research note on Friday, October 23rd. Finally, Seaport Research Partners reaffirmed a “buy” rating and set a $175.00 price target on shares of Badger Meter in a report on Friday, October 23rd. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Badger Meter currently has a consensus rating of “Hold” and an average price target of $166.33.
Read Our Latest Research Report on BMI
Badger Meter Stock Performance
Shares of NYSE BMI opened at $157.27 on Wednesday. Badger Meter, Inc. has a 1 year low of $112.09 and a 1 year high of $188.09. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 36.76, a PEG ratio of 3.91 and a beta of 0.63. The stock’s 50-day simple moving average is $135.84 and its 200-day simple moving average is $138.67.
Badger Meter (NYSE:BMI – Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01. The firm had revenue of $230.30 million during the quarter, compared to the consensus estimate of $240.35 million. Badger Meter had a return on equity of 18.49% and a net margin of 14.36%. Badger Meter’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 earnings per share. As a group, research analysts predict that Badger Meter, Inc. will post 4.53 EPS for the current year.
Badger Meter Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, August 28th. This represents a $1.76 annualized dividend and a yield of 1.1%. This is a boost from Badger Meter’s previous quarterly dividend of $0.40. Badger Meter’s dividend payout ratio (DPR) is presently 40.65%.
Badger Meter Company Profile
Badger Meter, Inc. is a Milwaukee-based manufacturer of products and systems used to measure and manage water and other fluid flows. Founded in 1905, the company serves municipal water utilities as well as commercial and industrial customers. Its offerings include water meters, flow instrumentation and related communications technology that helps customers collect and analyze usage data. Badger Meter also provides water quality monitoring equipment and software for tracking water system performance and supporting operational decisions.
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