Badger Meter, Inc. (NYSE:BMI) Shares Bought by Algert Global LLC

Algert Global LLC lifted its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 39.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 77,333 shares of the scientific and technical instruments company’s stock after acquiring an additional 21,799 shares during the quarter. Badger Meter accounts for about 0.5% of Algert Global LLC’s investment portfolio, making the stock its 8th biggest position. Algert Global LLC owned approximately 0.26% of Badger Meter worth $16,890,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Badger Meter by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,674,493 shares of the scientific and technical instruments company’s stock worth $594,570,000 after purchasing an additional 22,707 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased 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 worth $4,218,000 after buying an additional 2,964 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Badger Meter by 4.5% in the third quarter. Private Advisor Group LLC now owns 1,635 shares of the scientific and technical instruments company’s stock worth $357,000 after buying an additional 71 shares during the last quarter. Values First Advisors Inc. acquired a new stake in Badger Meter in the second quarter valued at $1,704,000. Finally, Tidal Investments LLC boosted its stake in Badger Meter by 228.2% during the 1st quarter. Tidal Investments LLC now owns 8,590 shares of the scientific and technical instruments company’s stock valued at $1,390,000 after acquiring an additional 5,973 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Analyst Upgrades and Downgrades

BMI has been the subject of several research analyst reports. Stifel Nicolaus boosted their target price on shares of Badger Meter from $189.00 to $203.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Maxim Group boosted their price objective on Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a report on Friday, October 18th. 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 report on Friday, October 18th. Finally, StockNews.com lowered Badger Meter from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Badger Meter has an average rating of “Hold” and a consensus price target of $214.75.

Badger Meter Stock Up 1.0 %

BMI opened at $221.00 on Friday. The company’s 50-day moving average price is $215.10 and its 200 day moving average price is $201.78. Badger Meter, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $230.76. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 54.84, a price-to-earnings-growth ratio of 2.75 and a beta of 0.78.

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 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 analyst estimates of $212.08 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research 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 announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Friday, November 22nd. Badger Meter’s payout ratio is 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.