Portside Wealth Group LLC Buys 199 Shares of Badger Meter, Inc. (NYSE:BMI)

Portside Wealth Group LLC increased its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 14.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,576 shares of the scientific and technical instruments company’s stock after purchasing an additional 199 shares during the quarter. Portside Wealth Group LLC’s holdings in Badger Meter were worth $344,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BMI. Marshall Wace LLP bought a new position in Badger Meter during the second quarter valued at $10,622,000. Driehaus Capital Management LLC raised its position 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 during the period. Millennium Management LLC lifted its stake 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 worth $18,782,000 after purchasing an additional 46,650 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Badger Meter by 47.1% during the second quarter. Renaissance Technologies LLC now owns 126,100 shares of the scientific and technical instruments company’s stock valued at $23,499,000 after buying an additional 40,400 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Badger Meter by 80.3% during the second quarter. Cubist Systematic Strategies LLC now owns 78,914 shares of the scientific and technical instruments company’s stock valued at $14,706,000 after buying an additional 35,150 shares during the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Price Performance

Shares of BMI stock opened at $223.47 on Friday. The stock’s 50-day moving average is $211.16 and its 200 day moving average is $199.77. Badger Meter, Inc. has a 1-year low of $139.50 and a 1-year high of $230.76. The company has a market cap of $6.57 billion, a P/E ratio of 55.45, a PEG ratio of 2.81 and a beta of 0.78.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data 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 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 firm earned $0.88 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts anticipate that Badger Meter, Inc. will post 4.19 EPS for the current year.

Badger Meter Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.61%. Badger Meter’s dividend payout ratio is presently 33.75%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BMI. StockNews.com downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. 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 report on Friday, October 18th. Argus increased their price target on Badger Meter from $204.00 to $218.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Stifel Nicolaus lifted their price objective on Badger Meter from $189.00 to $203.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, Robert W. Baird increased 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $214.75.

Insider Buying and Selling at Badger Meter

In related news, VP Kimberly K. Stoll sold 1,097 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $205.00, for a total value of $224,885.00. Following the transaction, the vice president now directly owns 3,861 shares of the company’s stock, valued at $791,505. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by company insiders.

Badger Meter Company 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.