Assenagon Asset Management S.A. Sells 5,381 Shares of Badger Meter, Inc. (NYSE:BMI)

Assenagon Asset Management S.A. cut its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 8.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,078 shares of the scientific and technical instruments company's stock after selling 5,381 shares during the quarter. Assenagon Asset Management S.A. owned about 0.20% of Badger Meter worth $12,903,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMI. Wealth Enhancement Advisory Services LLC boosted its stake in Badger Meter by 7.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,179 shares of the scientific and technical instruments company's stock worth $514,000 after acquiring an additional 213 shares in the last quarter. Norden Group LLC bought a new stake in shares of Badger Meter in the 1st quarter worth approximately $484,000. Commonwealth Equity Services LLC grew its stake in shares of Badger Meter by 209.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 25,372 shares of the scientific and technical instruments company's stock worth $4,105,000 after buying an additional 17,179 shares during the last quarter. Van ECK Associates Corp increased its position in Badger Meter by 18.6% during the 1st quarter. Van ECK Associates Corp now owns 18,081 shares of the scientific and technical instruments company's stock valued at $2,926,000 after buying an additional 2,837 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in Badger Meter during the first quarter valued at $299,000. 89.01% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Trading Up 1.2 %

BMI stock traded up $2.35 on Monday, hitting $204.38. The company had a trading volume of 153,842 shares, compared to its average volume of 179,219. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 58.97, a P/E/G ratio of 3.07 and a beta of 0.77. The stock's 50-day simple moving average is $210.07 and its 200 day simple moving average is $196.91. Badger Meter, Inc. has a 12-month low of $136.31 and a 12-month high of $230.76.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $208.44 million during the quarter, compared to analysts' expectations of $212.08 million. Badger Meter had a return on equity of 21.42% and a net margin of 14.44%. The business's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.88 earnings per share. Research analysts forecast that Badger Meter, Inc. will post 4.1 earnings per share for the current year.

Badger Meter Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.34 per share. This is an increase from Badger Meter's previous quarterly dividend of $0.27. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Friday, August 23rd. Badger Meter's payout ratio is currently 39.19%.

Insider Activity

In other Badger Meter news, VP Kimberly K. Stoll sold 1,097 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $205.00, for a total value of $224,885.00. Following the transaction, the vice president now directly owns 3,861 shares in the company, valued at approximately $791,505. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com cut shares of Badger Meter from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. Maxim Group upped their price objective on Badger Meter from $216.00 to $235.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Stifel Nicolaus lifted their target price on Badger Meter from $189.00 to $203.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. Argus boosted their price target on Badger Meter from $204.00 to $218.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Finally, Robert W. Baird increased their price objective on Badger Meter from $184.00 to $203.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. 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 data from MarketBeat.com, Badger Meter currently has a consensus rating of "Hold" and an average target price of $214.75.

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.