Franklin Resources Inc. Has $4.13 Million Holdings in Badger Meter, Inc. (NYSE:BMI)

Franklin Resources Inc. raised its position in Badger Meter, Inc. (NYSE:BMI) by 14.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 18,317 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,276 shares during the period. Franklin Resources Inc. owned 0.06% of Badger Meter worth $4,126,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Marshall Wace LLP acquired a new stake in Badger Meter during the second quarter worth approximately $10,622,000. Driehaus Capital Management LLC boosted its holdings in shares of Badger Meter by 66.4% during 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 buying an additional 51,318 shares in the last quarter. Millennium Management LLC grew its position in shares of Badger Meter by 86.2% during the 2nd quarter. Millennium Management LLC now owns 100,788 shares of the scientific and technical instruments company’s stock worth $18,782,000 after buying an additional 46,650 shares during the period. Barclays PLC increased its stake in shares of Badger Meter by 348.5% in the 3rd quarter. Barclays PLC now owns 55,090 shares of the scientific and technical instruments company’s stock valued at $12,034,000 after acquiring an additional 42,806 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Badger Meter by 47.1% in the 2nd quarter. Renaissance Technologies LLC now owns 126,100 shares of the scientific and technical instruments company’s stock valued at $23,499,000 after acquiring an additional 40,400 shares in the last quarter. 89.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Maxim Group raised their price target 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. Robert W. Baird raised their target price on Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Stifel Nicolaus boosted their target price on Badger Meter from $203.00 to $208.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. 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, the stock currently has an average rating of “Hold” and an average target price of $216.00.

Badger Meter Price Performance

Shares of NYSE BMI opened at $220.00 on Wednesday. Badger Meter, Inc. has a 1 year low of $139.50 and a 1 year high of $239.11. The stock has a market capitalization of $6.47 billion, a P/E ratio of 54.59, a P/E/G ratio of 2.98 and a beta of 0.79. The company has a 50-day moving average price of $216.64 and a 200-day moving average price of $206.27.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Thursday, October 17th. The scientific and technical instruments company reported $1.08 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 company had revenue of $208.44 million for the quarter, compared to the consensus estimate of $212.08 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that Badger Meter, Inc. will post 4.19 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.62%. The ex-dividend date was Friday, November 22nd. Badger Meter’s dividend payout ratio (DPR) is presently 33.75%.

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.