Advisors Asset Management Inc. Lowers Stake in Badger Meter, Inc. (NYSE:BMI)

Advisors Asset Management Inc. cut its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 23.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,634 shares of the scientific and technical instruments company's stock after selling 6,990 shares during the period. Advisors Asset Management Inc. owned 0.08% of Badger Meter worth $4,943,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in Badger Meter in the 2nd quarter worth $10,622,000. Driehaus Capital Management LLC lifted its position 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 stake 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 valued at $18,782,000 after buying an additional 46,650 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Badger Meter by 47.1% during 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 buying an additional 40,400 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Badger Meter by 80.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 78,914 shares of the scientific and technical instruments company's stock worth $14,706,000 after acquiring an additional 35,150 shares during the last quarter. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Price Performance

Shares of BMI traded up $1.77 during mid-day trading on Friday, reaching $221.00. 184,482 shares of the company's stock traded hands, compared to its average volume of 179,525. Badger Meter, Inc. has a 12 month low of $139.50 and a 12 month high of $230.76. The stock has a market cap of $6.50 billion, a P/E ratio of 54.35, a P/E/G ratio of 2.65 and a beta of 0.78. The stock's 50-day moving average is $215.10 and its two-hundred day moving average is $201.78.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 EPS for the quarter, missing analysts' consensus estimates of $1.11 by ($0.03). The company had revenue of $208.44 million during the quarter, compared to the consensus estimate of $212.08 million. Badger Meter had a return on equity of 21.56% and a net margin of 14.80%. The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. Research analysts predict that Badger Meter, Inc. will post 4.19 earnings per share for the current year.

Badger Meter Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Friday, November 22nd. Badger Meter's payout ratio is 33.75%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BMI shares. StockNews.com lowered shares of Badger Meter from a "buy" rating to a "hold" rating in a report on Thursday, August 1st. Robert W. Baird boosted their target price on shares of Badger Meter from $184.00 to $203.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Maxim Group increased their price target on shares of Badger Meter from $216.00 to $235.00 and gave the company a "buy" rating in a report on Friday, October 18th. Finally, Stifel Nicolaus boosted 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $214.75.

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.