BNP Paribas Financial Markets cut its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 35.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,730 shares of the scientific and technical instruments company's stock after selling 16,670 shares during the quarter. BNP Paribas Financial Markets owned about 0.10% of Badger Meter worth $6,712,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of BMI. Portside Wealth Group LLC increased its position in Badger Meter by 4.2% in the 2nd quarter. Portside Wealth Group LLC now owns 1,377 shares of the scientific and technical instruments company's stock valued at $257,000 after buying an additional 55 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Badger Meter by 4.5% in the third quarter. Private Advisor Group LLC now owns 1,635 shares of the scientific and technical instruments company's stock valued at $357,000 after buying an additional 71 shares in the last quarter. Farrow Financial Inc. grew its holdings in shares of Badger Meter by 0.4% during the second quarter. Farrow Financial Inc. now owns 20,064 shares of the scientific and technical instruments company's stock valued at $3,739,000 after buying an additional 85 shares during the last quarter. Xponance Inc. increased its position in shares of Badger Meter by 5.0% during the second quarter. Xponance Inc. now owns 1,871 shares of the scientific and technical instruments company's stock worth $349,000 after acquiring an additional 89 shares in the last quarter. Finally, Argus Investors Counsel Inc. raised its holdings in shares of Badger Meter by 4.8% in the 2nd quarter. Argus Investors Counsel Inc. now owns 2,401 shares of the scientific and technical instruments company's stock worth $447,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.
Badger Meter Price Performance
Shares of NYSE BMI traded down $1.16 during midday trading on Tuesday, reaching $219.40. The company's stock had a trading volume of 52,035 shares, compared to its average volume of 179,212. The stock has a market capitalization of $6.45 billion, a P/E ratio of 54.12, a PEG ratio of 2.72 and a beta of 0.79. The firm has a 50 day moving average price of $215.61 and a 200-day moving average price of $203.04. Badger Meter, Inc. has a 12-month low of $139.50 and a 12-month high of $230.76.
Badger Meter (NYSE:BMI - Get Free Report) last announced its earnings results 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). The business had revenue of $208.44 million for the quarter, compared to analysts' expectations of $212.08 million. Badger Meter had a net margin of 14.80% and a return on equity of 21.56%. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 earnings per share. On average, equities analysts predict that Badger Meter, Inc. will post 4.19 EPS for the current year.
Badger Meter Dividend Announcement
The business also recently announced 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 dividend payout ratio is currently 33.75%.
Wall Street Analyst Weigh In
BMI has been the subject of a number of analyst reports. Maxim Group lifted their price target on Badger Meter from $216.00 to $235.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Robert W. Baird lifted their target price on Badger Meter from $184.00 to $203.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Finally, Stifel Nicolaus increased their price target on Badger Meter from $189.00 to $203.00 and gave the company a "hold" rating in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $214.75.
Check Out Our Latest Research Report on BMI
Badger Meter Company Profile
(
Free Report)
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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