New York State Common Retirement Fund Buys 8,997 Shares of Badger Meter, Inc. $BMI

by · The Markets Daily

New York State Common Retirement Fund grew its stake in Badger Meter, Inc. (NYSE:BMI – Free Report) by 13.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,581 shares of the scientific and technical instruments company’s stock after acquiring an additional 8,997 shares during the quarter. New York State Common Retirement Fund’s holdings in Badger Meter were worth $18,759,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Maryland State Retirement & Pension System raised its position in shares of Badger Meter by 0.6% in the 2nd quarter. Maryland State Retirement & Pension System now owns 8,649 shares of the scientific and technical instruments company’s stock worth $2,119,000 after purchasing an additional 54 shares during the last quarter. Norway Savings Bank grew its position in Badger Meter by 2.1% during the 2nd quarter. Norway Savings Bank now owns 2,775 shares of the scientific and technical instruments company’s stock valued at $680,000 after purchasing an additional 57 shares during the last quarter. Journey Strategic Wealth LLC grew its position in Badger Meter by 4.6% during the 2nd quarter. Journey Strategic Wealth LLC now owns 1,296 shares of the scientific and technical instruments company’s stock valued at $317,000 after purchasing an additional 57 shares during the last quarter. Parallel Advisors LLC increased its stake in Badger Meter by 6.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,039 shares of the scientific and technical instruments company’s stock valued at $255,000 after purchasing an additional 60 shares in the last quarter. Finally, Monument Capital Management raised its holdings in Badger Meter by 0.4% in the second quarter. Monument Capital Management now owns 15,588 shares of the scientific and technical instruments company’s stock worth $3,818,000 after buying an additional 60 shares during the last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Trading Up 0.7%

Shares of BMI stock opened at $174.47 on Wednesday. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $256.08. The stock has a market capitalization of $5.14 billion, a P/E ratio of 37.12, a P/E/G ratio of 2.86 and a beta of 0.93. The firm’s 50 day moving average is $179.43 and its 200 day moving average is $202.34.

Badger Meter (NYSE:BMI – Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The scientific and technical instruments company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. The firm had revenue of $235.65 million for the quarter, compared to analysts’ expectations of $231.88 million. Badger Meter had a return on equity of 21.12% and a net margin of 15.40%.The company’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 EPS. As a group, equities analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, November 21st. Badger Meter’s dividend payout ratio (DPR) is presently 34.04%.

Analysts Set New Price Targets

BMI has been the topic of a number of recent analyst reports. Stifel Nicolaus upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and increased their price target for the company from $208.00 to $215.00 in a report on Wednesday, October 22nd. Weiss Ratings lowered shares of Badger Meter from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Royal Bank Of Canada set a $229.00 target price on Badger Meter and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Zacks Research raised Badger Meter from a “strong sell” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Robert W. Baird set a $205.00 price target on Badger Meter and gave the stock a “neutral” rating in a research note on Monday, October 20th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $227.33.

View Our Latest Report on Badger Meter

About Badger Meter

(Free Report)

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.

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