Oak Ridge Investments LLC Takes $2.39 Million Position in Badger Meter, Inc. (NYSE:BMI)

Oak Ridge Investments LLC purchased a new position in Badger Meter, Inc. (NYSE:BMI - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 10,955 shares of the scientific and technical instruments company's stock, valued at approximately $2,393,000.

A number of other large investors also recently bought and sold shares of the business. Marshall Wace LLP bought a new stake in Badger Meter in the second quarter worth $10,622,000. Driehaus Capital Management LLC boosted its stake in Badger Meter by 66.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 128,651 shares of the scientific and technical instruments company's stock worth $23,974,000 after purchasing an additional 51,318 shares in the last quarter. Millennium Management LLC grew its position in Badger Meter by 86.2% during 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 last quarter. Renaissance Technologies LLC increased its stake 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 purchasing an additional 40,400 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in Badger Meter by 80.3% in the second 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 last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Badger Meter Stock Performance

Shares of BMI stock traded up $1.93 on Friday, reaching $201.98. The stock had a trading volume of 125,715 shares, compared to its average volume of 179,466. Badger Meter, Inc. has a 1 year low of $137.96 and a 1 year high of $230.76. The stock has a market cap of $5.94 billion, a P/E ratio of 49.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.77. The company has a 50 day simple moving average of $210.08 and a 200 day simple moving average of $197.69.

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). 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 analysts' expectations of $212.08 million. During the same period in the previous year, the business posted $0.88 earnings per share. The company's revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts anticipate that Badger Meter, Inc. will post 4.19 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a $0.34 dividend. The ex-dividend date was Friday, August 23rd. This is an increase from Badger Meter's previous quarterly dividend of $0.27. This represents a $1.36 annualized dividend and a yield of 0.67%. Badger Meter's dividend payout ratio (DPR) is presently 33.75%.

Insider Transactions at Badger Meter

In other Badger Meter news, VP Kimberly K. Stoll sold 1,097 shares of the company's 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 completion of the transaction, the vice president now directly owns 3,861 shares in the company, valued at $791,505. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.80% of the company's stock.

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.