Duff & Phelps Investment Management Co. Reduces Holdings in Badger Meter, Inc. (NYSE:BMI)

Duff & Phelps Investment Management Co. trimmed its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 7.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,253 shares of the scientific and technical instruments company's stock after selling 4,701 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.21% of Badger Meter worth $13,597,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Barclays PLC raised its position in Badger Meter by 348.5% during the third 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. Public Employees Retirement System of Ohio raised its holdings in shares of Badger Meter by 636.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 950 shares of the scientific and technical instruments company's stock worth $207,000 after buying an additional 821 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in Badger Meter by 51.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 1,723 shares of the scientific and technical instruments company's stock valued at $376,000 after buying an additional 587 shares in the last quarter. Hodges Capital Management Inc. bought a new stake in shares of Badger Meter during the third quarter worth $224,000. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of Badger Meter in the third quarter valued at approximately $847,000. Institutional investors and hedge funds own 89.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Badger Meter from $184.00 to $203.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Stifel Nicolaus increased 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. Finally, Maxim Group increased their target price on Badger Meter from $216.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $214.75.

Badger Meter Price Performance

BMI stock traded up $3.64 during midday trading on Monday, reaching $228.02. The company had a trading volume of 181,079 shares, compared to its average volume of 180,408. The firm has a 50-day moving average price of $216.06 and a 200-day moving average price of $203.72. The company has a market capitalization of $6.71 billion, a P/E ratio of 55.68, a P/E/G ratio of 2.82 and a beta of 0.79. Badger Meter, Inc. has a 1 year low of $139.50 and a 1 year high of $230.76.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.11 by ($0.03). Badger Meter had a return on equity of 21.56% and a net margin of 14.80%. The firm had revenue of $208.44 million during the quarter, compared to the consensus estimate of $212.08 million. During the same quarter last year, the company posted $0.88 EPS. Badger Meter's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts predict that Badger Meter, Inc. will post 4.19 EPS for the current year.

Badger Meter Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $0.34 dividend. 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 (DPR) is presently 33.75%.

Badger Meter Company 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.