Badger Meter, Inc. (NYSE:BMI) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its holdings in Badger Meter, Inc. (NYSE:BMI) by 39.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,112 shares of the scientific and technical instruments company’s stock after selling 11,776 shares during the quarter. Edgestream Partners L.P.’s holdings in Badger Meter were worth $3,375,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMI. Norges Bank purchased a new position in shares of Badger Meter in the 4th quarter valued at about $47,359,000. Goldman Sachs Group Inc. increased its holdings in Badger Meter by 33.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 397,614 shares of the scientific and technical instruments company’s stock valued at $61,380,000 after buying an additional 100,304 shares in the last quarter. KBC Group NV lifted its position in shares of Badger Meter by 29.8% during the 4th quarter. KBC Group NV now owns 324,720 shares of the scientific and technical instruments company’s stock valued at $50,127,000 after acquiring an additional 74,578 shares during the period. Eagle Asset Management Inc. purchased a new stake in shares of Badger Meter during the 4th quarter worth approximately $10,360,000. Finally, Renaissance Technologies LLC grew its holdings 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 worth $23,499,000 after acquiring an additional 40,400 shares during the period. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Stock Down 0.8 %

Shares of NYSE:BMI opened at $211.84 on Thursday. The company has a market capitalization of $6.23 billion, a P/E ratio of 61.05, a P/E/G ratio of 2.75 and a beta of 0.77. Badger Meter, Inc. has a 52-week low of $134.06 and a 52-week high of $217.68. The stock’s fifty day simple moving average is $199.68 and its 200-day simple moving average is $185.67.

Badger Meter (NYSE:BMI) last released its earnings results on Friday, July 19th. The scientific and technical instruments company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. The company had revenue of $216.70 million for the quarter, compared to analyst estimates of $203.39 million. Badger Meter had a net margin of 14.44% and a return on equity of 21.42%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. On average, sell-side analysts anticipate that Badger Meter, Inc. will post 4.06 earnings per share for the current year.

Badger Meter Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.34 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 0.64%. This is a positive change from Badger Meter’s previous quarterly dividend of $0.27. Badger Meter’s dividend payout ratio (DPR) is 39.19%.

Analysts Set New Price Targets

BMI has been the subject of several research reports. Robert W. Baird lifted their price objective on Badger Meter from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. StockNews.com downgraded Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Argus increased their price objective on shares of Badger Meter from $204.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Stifel Nicolaus lifted their target price on shares of Badger Meter from $175.00 to $192.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $184.20.

Insider Buying and Selling at Badger Meter

In other news, VP Kimberly K. Stoll sold 1,097 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $205.00, for a total transaction of $224,885.00. Following the sale, the vice president now owns 3,861 shares in the company, valued at $791,505. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by insiders.

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.