Badger Meter, Inc. (NYSE:BMI) Shares Sold by Vestcor Inc

Vestcor Inc lowered its position in shares of Badger Meter, Inc. (NYSE:BMI) by 39.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,956 shares of the scientific and technical instruments company’s stock after selling 1,261 shares during the quarter. Vestcor Inc’s holdings in Badger Meter were worth $427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BMI. Marshall Wace LLP purchased a new position in Badger Meter in the 2nd quarter valued at $10,622,000. Driehaus Capital Management LLC lifted its stake in shares of Badger Meter by 66.4% in the second quarter. Driehaus Capital Management LLC now owns 128,651 shares of the scientific and technical instruments company’s stock worth $23,974,000 after buying an additional 51,318 shares in the last quarter. Millennium Management LLC boosted its position in Badger Meter by 86.2% during the second quarter. Millennium Management LLC now owns 100,788 shares of the scientific and technical instruments company’s stock worth $18,782,000 after acquiring an additional 46,650 shares during the last quarter. Barclays PLC grew its stake in Badger Meter by 348.5% during the 3rd quarter. Barclays PLC now owns 55,090 shares of the scientific and technical instruments company’s stock valued at $12,034,000 after acquiring an additional 42,806 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Badger Meter by 47.1% in the 2nd quarter. Renaissance Technologies LLC now owns 126,100 shares of the scientific and technical instruments company’s stock valued at $23,499,000 after acquiring an additional 40,400 shares during the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Down 1.9 %

NYSE:BMI opened at $226.19 on Friday. Badger Meter, Inc. has a 52 week low of $139.50 and a 52 week high of $239.11. The stock’s fifty day moving average is $217.22 and its two-hundred day moving average is $204.75. The company has a market capitalization of $6.65 billion, a P/E ratio of 56.13, a P/E/G ratio of 2.98 and a beta of 0.79.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share 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 company had revenue of $208.44 million for the quarter, compared to analyst estimates of $212.08 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. Badger Meter’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts anticipate that Badger Meter, Inc. will post 4.19 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a dividend of $0.34 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.36 annualized dividend and a dividend yield of 0.60%. Badger Meter’s dividend payout ratio is currently 33.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BMI shares. Robert W. Baird upped their price target on Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Maxim Group raised their target price on Badger Meter from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Stifel Nicolaus boosted their price target on shares of Badger Meter from $203.00 to $208.00 and gave the company a “hold” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $216.00.

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.