Connor Clark & Lunn Investment Management Ltd. Has $8.98 Million Stake in Badger Meter, Inc. (NYSE:BMI)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Badger Meter, Inc. (NYSE:BMI) by 29.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,102 shares of the scientific and technical instruments company’s stock after purchasing an additional 9,339 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.14% of Badger Meter worth $8,977,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Badger Meter by 1,016.7% in the 3rd quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company’s stock worth $44,000 after purchasing an additional 183 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Badger Meter by 2,633.3% during the 1st quarter. Bessemer Group Inc. now owns 492 shares of the scientific and technical instruments company’s stock worth $80,000 after acquiring an additional 474 shares during the period. GAMMA Investing LLC increased its position in Badger Meter by 46.3% during the 2nd quarter. GAMMA Investing LLC now owns 499 shares of the scientific and technical instruments company’s stock valued at $93,000 after buying an additional 158 shares in the last quarter. CWM LLC raised its stake in shares of Badger Meter by 40.9% in the second quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company’s stock worth $107,000 after purchasing an additional 167 shares during the last quarter. Finally, Annex Advisory Services LLC bought a new position in Badger Meter in the third quarter valued at about $204,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on BMI shares. StockNews.com cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus lifted their price objective on shares of Badger Meter from $189.00 to $203.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Robert W. Baird raised their price target on shares of Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Maxim Group boosted their price target on shares of Badger Meter from $216.00 to $235.00 and gave the stock a “buy” rating in a research 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 company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $214.75.

Badger Meter Stock Up 1.1 %

NYSE:BMI opened at $219.05 on Friday. The company has a market capitalization of $6.44 billion, a PE ratio of 54.35, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78. Badger Meter, Inc. has a 52-week low of $139.50 and a 52-week high of $230.76. The stock has a fifty day simple moving average of $214.79 and a 200-day simple moving average of $201.66.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). Badger Meter had a net margin of 14.80% and a return on equity of 21.56%. The firm had revenue of $208.44 million during the quarter, compared to analyst estimates of $212.08 million. During the same period last year, the business earned $0.88 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that Badger Meter, Inc. will post 4.19 earnings per share for the current year.

Badger Meter Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Friday, November 22nd. Badger Meter’s payout ratio is currently 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.