Badger Meter, Inc. (NYSE:BMI) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. lowered its stake in shares of Badger Meter, Inc. (NYSE:BMIGet Rating) by 10.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,507 shares of the scientific and technical instruments company’s stock after selling 301 shares during the quarter. Baird Financial Group Inc.’s holdings in Badger Meter were worth $203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC acquired a new position in Badger Meter during the first quarter worth $27,000. National Bank of Canada FI acquired a new position in Badger Meter during the first quarter worth $30,000. BerganKDV Wealth Management LLC acquired a new position in shares of Badger Meter in the 2nd quarter valued at $32,000. Trust Co. of Vermont acquired a new position in shares of Badger Meter in the 2nd quarter valued at $47,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Badger Meter in the 1st quarter valued at $91,000. Institutional investors and hedge funds own 86.42% of the company’s stock.

Badger Meter Trading Down 0.1 %

BMI stock opened at $116.79 on Thursday. The company has a market capitalization of $3.42 billion, a PE ratio of 51.68 and a beta of 0.89. Badger Meter, Inc. has a 12-month low of $73.20 and a 12-month high of $117.97. The business’s fifty day moving average price is $102.66 and its 200 day moving average price is $92.14.

Badger Meter (NYSE:BMIGet Rating) last posted its quarterly earnings data on Wednesday, October 19th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $148.00 million for the quarter, compared to the consensus estimate of $137.78 million. Badger Meter had a return on equity of 16.04% and a net margin of 11.96%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 EPS. Research analysts predict that Badger Meter, Inc. will post 2.27 EPS for the current fiscal year.

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Friday, November 25th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $0.90 annualized dividend and a dividend yield of 0.77%. Badger Meter’s dividend payout ratio is presently 39.82%.

Analyst Upgrades and Downgrades

BMI has been the topic of several recent analyst reports. StockNews.com lowered Badger Meter from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. TheStreet raised Badger Meter from a “c+” rating to a “b-” rating in a research note on Wednesday, August 3rd. Finally, Stifel Nicolaus decreased their price target on Badger Meter from $94.00 to $93.00 and set a “hold” rating on the stock in a research note on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Badger Meter currently has a consensus rating of “Hold” and an average target price of $99.33.

About Badger Meter

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Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities.

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Institutional Ownership by Quarter for Badger Meter (NYSE:BMI)

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