Cerity Partners LLC lowered its stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 11.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,377 shares of the scientific and technical instruments company's stock after selling 6,452 shares during the period. Cerity Partners LLC owned 0.17% of Badger Meter worth $11,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Badger Meter by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 338,198 shares of the scientific and technical instruments company's stock valued at $73,866,000 after acquiring an additional 19,848 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Badger Meter by 7.0% during the second quarter. Bank of New York Mellon Corp now owns 337,391 shares of the scientific and technical instruments company's stock valued at $62,873,000 after purchasing an additional 22,160 shares in the last quarter. KBC Group NV increased its holdings in shares of Badger Meter by 0.8% in the third quarter. KBC Group NV now owns 331,769 shares of the scientific and technical instruments company's stock worth $72,462,000 after purchasing an additional 2,515 shares during the last quarter. Congress Asset Management Co. lifted its position in shares of Badger Meter by 2.8% in the third quarter. Congress Asset Management Co. now owns 295,027 shares of the scientific and technical instruments company's stock worth $64,437,000 after buying an additional 7,967 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in Badger Meter by 66.4% during the second quarter. Driehaus Capital Management LLC now owns 128,651 shares of the scientific and technical instruments company's stock valued at $23,974,000 after buying an additional 51,318 shares during the last quarter. Hedge funds and other institutional investors own 89.01% of the company's stock.
Shares of NYSE BMI opened at $215.99 on Wednesday. The business's 50 day moving average price is $215.51 and its 200-day moving average price is $202.28. Badger Meter, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $230.76. The company has a market cap of $6.35 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 for the quarter, missing the consensus estimate of $1.11 by ($0.03). Badger Meter had a return on equity of 21.56% and a net margin of 14.80%. The business had revenue of $208.44 million for the quarter, compared to the consensus estimate of $212.08 million. During the same quarter last year, the business posted $0.88 earnings per share. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts predict that Badger Meter, Inc. will post 4.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Friday, November 22nd. Badger Meter's payout ratio is 33.75%.
A number of analysts have issued reports on BMI shares. Stifel Nicolaus lifted their price objective on 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 upped their price target on shares of Badger Meter from $184.00 to $203.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. StockNews.com lowered shares of Badger Meter from a "buy" rating to a "hold" rating in a research report on Thursday, August 1st. Finally, Maxim Group boosted 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $214.75.
View Our Latest Research Report on BMI
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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