Duff & Phelps Investment Management Co. Lowers Stock Holdings in Badger Meter, Inc. (NYSE:BMI)

Duff & Phelps Investment Management Co. lessened its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,253 shares of the scientific and technical instruments company’s stock after selling 4,701 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Badger Meter were worth $13,597,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Marshall Wace LLP acquired a new position in Badger Meter in the 2nd quarter valued at $10,622,000. Driehaus Capital Management LLC increased its stake in shares of Badger Meter by 66.4% during the second quarter. Driehaus Capital Management LLC now owns 128,651 shares of the scientific and technical instruments company’s stock worth $23,974,000 after acquiring an additional 51,318 shares during the period. Millennium Management LLC increased its stake in shares of Badger Meter by 86.2% during 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 acquiring an additional 46,650 shares during the period. Barclays PLC raised its holdings in Badger Meter by 348.5% during the third quarter. Barclays PLC now owns 55,090 shares of the scientific and technical instruments company’s stock worth $12,034,000 after purchasing an additional 42,806 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Badger Meter by 47.1% in 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 purchasing an additional 40,400 shares during the period. 89.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Badger Meter Stock Up 0.1 %

NYSE:BMI opened at $224.38 on Monday. Badger Meter, Inc. has a 52-week low of $139.50 and a 52-week high of $230.76. The stock has a fifty day simple moving average of $216.06 and a 200-day simple moving average of $203.72. The company has a market capitalization of $6.60 billion, a PE ratio of 55.68, a price-to-earnings-growth ratio of 2.82 and a beta of 0.79.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). Badger Meter had a net margin of 14.80% and a return on equity of 21.56%. The business had revenue of $208.44 million during the quarter, compared to analysts’ expectations of $212.08 million. During the same period last year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts anticipate that Badger Meter, Inc. will post 4.19 earnings per share 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. The ex-dividend date was Friday, November 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.61%. Badger Meter’s dividend payout ratio (DPR) is 33.75%.

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.