Algert Global LLC Grows Stake in Badger Meter, Inc. (NYSE:BMI)

Algert Global LLC lifted its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 39.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,333 shares of the scientific and technical instruments company’s stock after buying an additional 21,799 shares during the period. Badger Meter makes up about 0.5% of Algert Global LLC’s investment portfolio, making the stock its 8th largest holding. Algert Global LLC’s holdings in Badger Meter were worth $16,890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 valued at $594,570,000 after acquiring an additional 22,707 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Badger Meter by 15.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 22,636 shares of the scientific and technical instruments company’s stock valued at $4,218,000 after purchasing an additional 2,964 shares during the period. Private Advisor Group LLC raised its stake in shares of Badger Meter by 4.5% during the third quarter. Private Advisor Group LLC now owns 1,635 shares of the scientific and technical instruments company’s stock valued at $357,000 after purchasing an additional 71 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Badger Meter during the second quarter valued at about $1,704,000. Finally, Tidal Investments LLC lifted its holdings in Badger Meter by 228.2% in the first quarter. Tidal Investments LLC now owns 8,590 shares of the scientific and technical instruments company’s stock worth $1,390,000 after purchasing an additional 5,973 shares during the period. 89.01% of the stock is owned by institutional investors.

Badger Meter Price Performance

Shares of BMI opened at $221.00 on Friday. The firm’s 50 day moving average is $215.10 and its 200-day moving average is $201.78. Badger Meter, Inc. has a 12-month low of $139.50 and a 12-month high of $230.76. The stock has a market capitalization of $6.50 billion, a P/E ratio of 54.84, a P/E/G ratio of 2.75 and a beta of 0.78.

Badger Meter (NYSE:BMI) last posted 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 return on equity of 21.56% and a net margin of 14.80%. The business had revenue of $208.44 million during the quarter, compared to analyst estimates of $212.08 million. During the same quarter last year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts forecast that Badger Meter, Inc. will post 4.19 EPS for the current fiscal year.

Badger Meter Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a $0.34 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.62%. Badger Meter’s dividend payout ratio (DPR) is 33.75%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird raised their target price on shares of Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Stifel Nicolaus raised their price objective on shares of Badger Meter from $189.00 to $203.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Maxim Group upped their target price on Badger Meter from $216.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, StockNews.com lowered Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $214.75.

Badger Meter 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.