Badger Meter, Inc. (NYSE:BMI) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp lifted its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 29.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,971 shares of the scientific and technical instruments company's stock after acquiring an additional 2,692 shares during the period. Stifel Financial Corp's holdings in Badger Meter were worth $2,615,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BMI. Marshall Wace LLP acquired a new position in Badger Meter during the 2nd quarter valued at approximately $10,622,000. Driehaus Capital Management LLC raised its stake in shares of Badger Meter by 66.4% in the second 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 during the last quarter. Millennium Management LLC boosted its position in Badger Meter by 86.2% in the second quarter. Millennium Management LLC now owns 100,788 shares of the scientific and technical instruments company's stock valued at $18,782,000 after buying an additional 46,650 shares during the last quarter. Renaissance Technologies LLC increased its holdings in 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 during the period. Finally, Cubist Systematic Strategies LLC raised its position in 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 last quarter. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Price Performance

Shares of NYSE:BMI traded down $0.99 during trading on Thursday, hitting $218.46. 215,982 shares of the company were exchanged, compared to its average volume of 182,635. The firm's 50 day moving average price is $217.14 and its 200-day moving average price is $205.52. The stock has a market capitalization of $6.43 billion, a P/E ratio of 54.21, a PEG ratio of 2.98 and a beta of 0.79. Badger Meter, Inc. has a 12-month low of $139.50 and a 12-month high of $239.11.

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 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 business had revenue of $208.44 million for the quarter, compared to analysts' expectations of $212.08 million. During the same quarter last year, the business posted $0.88 earnings per share. The business's revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that Badger Meter, Inc. will post 4.19 EPS for the current year.

Badger Meter Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Friday, November 22nd. Badger Meter's dividend payout ratio (DPR) is presently 33.75%.

Wall Street Analyst Weigh In

BMI has been the subject of a number of recent analyst reports. Robert W. Baird boosted 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. Maxim Group upped their price objective on shares of Badger Meter from $216.00 to $235.00 and gave the company a "buy" rating in a report on Friday, October 18th. Finally, Stifel Nicolaus lifted their price target on shares of Badger Meter from $203.00 to $208.00 and gave the company a "hold" rating in a research report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $216.00.

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.