Badger Meter, Inc. (NYSE:BMI) Holdings Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 36.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,948 shares of the scientific and technical instruments company's stock after selling 53,469 shares during the period. Victory Capital Management Inc. owned about 0.32% of Badger Meter worth $20,738,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Portside Wealth Group LLC raised its holdings in Badger Meter by 4.2% in the second quarter. Portside Wealth Group LLC now owns 1,377 shares of the scientific and technical instruments company's stock valued at $257,000 after acquiring an additional 55 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Badger Meter by 4.5% in the 3rd quarter. Private Advisor Group LLC now owns 1,635 shares of the scientific and technical instruments company's stock valued at $357,000 after purchasing an additional 71 shares in the last quarter. Farrow Financial Inc. lifted its position 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 worth $3,739,000 after purchasing an additional 85 shares during the last quarter. Xponance Inc. grew its stake in Badger Meter by 5.0% in the second quarter. Xponance Inc. now owns 1,871 shares of the scientific and technical instruments company's stock worth $349,000 after purchasing an additional 89 shares in the last quarter. Finally, Argus Investors Counsel Inc. increased its holdings in Badger Meter by 4.8% in the second quarter. Argus Investors Counsel Inc. now owns 2,401 shares of the scientific and technical instruments company's stock valued at $447,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Badger Meter Stock Down 0.9 %

Badger Meter stock traded down $2.00 during trading hours on Tuesday, hitting $210.97. 109,791 shares of the company traded hands, compared to its average volume of 179,011. The firm's 50-day simple moving average is $214.14 and its two-hundred day simple moving average is $201.40. The firm has a market cap of $6.20 billion, a P/E ratio of 52.37, a P/E/G ratio of 2.70 and a beta of 0.78. 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 announced its earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 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 for the quarter, compared to the consensus estimate of $212.08 million. During the same period in the previous year, the firm earned $0.88 EPS. Badger Meter's revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts predict that Badger Meter, Inc. will post 4.19 earnings per share for the current year.

Badger Meter Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Friday, November 22nd. Badger Meter's payout ratio is 33.75%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Badger Meter news, VP Kimberly K. Stoll sold 1,097 shares of the firm's stock in a transaction dated 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 trade represents a 22.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.80% of the stock is currently owned by company insiders.

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.