Wellington Management Group LLP reduced its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 13.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,056 shares of the scientific and technical instruments company's stock after selling 3,134 shares during the quarter. Wellington Management Group LLP owned 0.07% of Badger Meter worth $4,380,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Badger Meter by 1,016.7% during the 3rd quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company's stock valued at $44,000 after purchasing an additional 183 shares during the period. GAMMA Investing LLC grew its stake in shares of Badger Meter by 61.3% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the scientific and technical instruments company's stock valued at $176,000 after purchasing an additional 306 shares during the period. Annex Advisory Services LLC bought a new stake in shares of Badger Meter during the 3rd quarter valued at about $204,000. ORBA Wealth Advisors L.L.C. bought a new stake in shares of Badger Meter during the 3rd quarter valued at about $207,000. Finally, CWM LLC grew its stake in shares of Badger Meter by 72.5% during the 3rd quarter. CWM LLC now owns 992 shares of the scientific and technical instruments company's stock valued at $217,000 after acquiring an additional 417 shares during the period. 89.01% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on BMI shares. Stifel Nicolaus boosted their price objective on Badger Meter from $203.00 to $208.00 and gave the company a "hold" rating in a research note on Wednesday, December 11th. Maxim Group boosted their price objective 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 boosted their price objective on Badger Meter from $184.00 to $203.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $216.00.
Read Our Latest Stock Analysis on BMI
Badger Meter Stock Performance
Shares of BMI traded down $3.24 during mid-day trading on Tuesday, hitting $227.13. 240,200 shares of the stock were exchanged, compared to its average volume of 181,872. The company has a market cap of $6.68 billion, a PE ratio of 56.66, a price-to-earnings-growth ratio of 2.98 and a beta of 0.79. Badger Meter, Inc. has a 52-week low of $139.50 and a 52-week high of $239.11. The firm has a 50-day moving average of $217.33 and a two-hundred day moving average of $205.18.
Badger Meter (NYSE:BMI - Get Free Report) last released its earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). The company had revenue of $208.44 million for the quarter, compared to the consensus estimate of $212.08 million. Badger Meter had a net margin of 14.80% and a return on equity of 21.56%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. On average, sell-side analysts predict that Badger Meter, Inc. will post 4.19 EPS for the current year.
Badger Meter Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Friday, November 22nd. Badger Meter's dividend payout ratio is currently 33.75%.
Badger Meter Profile
(
Free Report)
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.
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