Bank of Montreal Can Sells 8,712 Shares of Badger Meter, Inc. (NYSE:BMI)

Bank of Montreal Can trimmed its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 44.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,799 shares of the scientific and technical instruments company's stock after selling 8,712 shares during the period. Bank of Montreal Can's holdings in Badger Meter were worth $2,335,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in Badger Meter in the second quarter valued at about $10,622,000. Driehaus Capital Management LLC boosted its holdings 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 purchasing an additional 51,318 shares in the last quarter. Millennium Management LLC grew its stake in shares of Badger Meter by 86.2% in the 2nd quarter. Millennium Management LLC now owns 100,788 shares of the scientific and technical instruments company's stock valued at $18,782,000 after purchasing an additional 46,650 shares during the period. Renaissance Technologies LLC raised its holdings in shares of 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 worth $23,499,000 after buying an additional 40,400 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Badger Meter by 80.3% during 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 buying an additional 35,150 shares during the period. Institutional investors and hedge funds own 89.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Maxim Group upped their price target on Badger Meter from $216.00 to $235.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Robert W. Baird upped 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. Finally, Stifel Nicolaus lifted their price target on shares of Badger Meter from $189.00 to $203.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $214.75.

Badger Meter Price Performance

Shares of NYSE:BMI traded up $0.20 during midday trading on Friday, reaching $224.38. The company's stock had a trading volume of 200,548 shares, compared to its average volume of 180,406. The business's fifty day simple moving average is $215.90 and its 200-day simple moving average is $203.46. 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 capitalization of $6.60 billion, a P/E ratio of 55.67, a P/E/G ratio of 2.75 and a beta of 0.79.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data 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 net margin of 14.80% and a return on equity of 21.56%. The company had revenue of $208.44 million during the quarter, compared to analyst estimates of $212.08 million. During the same quarter in the previous year, the business posted $0.88 EPS. The company's revenue was up 11.9% compared to the same quarter last year. On average, analysts forecast that Badger Meter, Inc. will post 4.19 earnings per share for the current fiscal year.

Badger Meter Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, November 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 0.61%. Badger Meter's payout ratio is 33.75%.

Badger Meter Profile

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.