Quantbot Technologies LP Decreases Stake in Badger Meter, Inc. (NYSE:BMI)

Quantbot Technologies LP lowered its holdings in Badger Meter, Inc. (NYSE:BMI) by 21.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,710 shares of the scientific and technical instruments company’s stock after selling 1,291 shares during the quarter. Quantbot Technologies LP’s holdings in Badger Meter were worth $1,029,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Badger Meter by 15.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 22,636 shares of the scientific and technical instruments company’s stock valued at $4,218,000 after purchasing an additional 2,964 shares during the period. Private Advisor Group LLC increased its stake in 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. Values First Advisors Inc. acquired a new position in Badger Meter during the second quarter worth $1,704,000. Tidal Investments LLC boosted its position in Badger Meter by 228.2% during the first quarter. Tidal Investments LLC now owns 8,590 shares of the scientific and technical instruments company’s stock worth $1,390,000 after purchasing an additional 5,973 shares in the last quarter. Finally, Bridges Investment Management Inc. acquired a new stake in Badger Meter in the second quarter valued at $577,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Price Performance

NYSE:BMI opened at $216.82 on Monday. Badger Meter, Inc. has a 1-year low of $139.50 and a 1-year high of $230.76. The firm has a 50 day simple moving average of $215.58 and a 200-day simple moving average of $202.87. The firm has a market cap of $6.38 billion, a PE ratio of 53.80, a P/E/G ratio of 2.72 and a beta of 0.78.

Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share 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 period in the prior year, the company earned $0.88 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts expect that Badger Meter, Inc. will post 4.19 earnings per share for the current fiscal year.

Badger Meter Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, November 22nd. Badger Meter’s dividend payout ratio (DPR) is 33.75%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Maxim Group boosted their price objective on shares of Badger Meter from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Robert W. Baird upped their price target on shares of Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Stifel Nicolaus raised their price objective on shares of Badger Meter from $189.00 to $203.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Badger Meter presently has a consensus rating of “Hold” and an average price target of $214.75.

About Badger Meter

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.