15,444 Shares in Badger Meter, Inc. (NYSE:BMI) Bought by Zacks Investment Management

Zacks Investment Management bought a new stake in Badger Meter, Inc. (NYSE:BMI - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,444 shares of the scientific and technical instruments company's stock, valued at approximately $3,373,000. Zacks Investment Management owned 0.05% of Badger Meter as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in BMI. Portside Wealth Group LLC lifted its stake in Badger Meter by 4.2% during the second quarter. Portside Wealth Group LLC now owns 1,377 shares of the scientific and technical instruments company's stock worth $257,000 after purchasing an additional 55 shares during the period. HighTower Advisors LLC increased its holdings in shares of Badger Meter by 1.1% in the third quarter. HighTower Advisors LLC now owns 5,312 shares of the scientific and technical instruments company's stock valued at $1,165,000 after purchasing an additional 56 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Badger Meter by 4.5% in the third 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. Xponance Inc. increased its holdings in shares of 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 valued at $349,000 after purchasing an additional 89 shares in the last quarter. Finally, Argus Investors Counsel Inc. increased its holdings in shares of 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 purchasing an additional 109 shares in the last quarter. Institutional investors own 89.01% of the company's stock.

Wall Street Analyst Weigh In

BMI has been the subject of a number of analyst reports. Robert W. Baird lifted their target price on shares of Badger Meter from $184.00 to $203.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Maxim Group lifted their target price on shares of Badger Meter from $216.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, October 18th. Finally, Stifel Nicolaus lifted their target price on shares of Badger Meter from $189.00 to $203.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Badger Meter presently has an average rating of "Hold" and a consensus price target of $214.75.

Badger Meter Stock Up 1.6 %

Badger Meter stock traded up $3.64 during mid-day trading on Monday, hitting $228.02. 181,079 shares of the company's stock were exchanged, compared to its average volume of 180,408. Badger Meter, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $230.76. The firm has a market capitalization of $6.71 billion, a P/E ratio of 56.58, a PEG ratio of 2.82 and a beta of 0.79. The company's 50 day simple moving average is $216.25 and its 200-day simple moving average is $203.92.

Badger Meter (NYSE:BMI - Get Free Report) last posted 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 the consensus estimate of $212.08 million. During the same period in the previous year, the company posted $0.88 earnings per share. Badger Meter's revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts expect 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 issued a $0.34 dividend. 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 (DPR) is presently 33.75%.

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.