Eagle Asset Management Inc. Has $11.65 Million Holdings in Badger Meter, Inc. (NYSE:BMI)

Eagle Asset Management Inc. lowered its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,138 shares of the scientific and technical instruments company’s stock after selling 2,696 shares during the quarter. Eagle Asset Management Inc.’s holdings in Badger Meter were worth $11,651,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Portside Wealth Group LLC increased its holdings in shares of Badger Meter by 4.2% during the 2nd quarter. Portside Wealth Group LLC now owns 1,377 shares of the scientific and technical instruments company’s stock worth $257,000 after purchasing an additional 55 shares during the period. Private Advisor Group LLC raised its holdings in Badger Meter by 4.5% in the 3rd quarter. Private Advisor Group LLC now owns 1,635 shares of the scientific and technical instruments company’s stock valued at $357,000 after acquiring an additional 71 shares in the last quarter. Farrow Financial Inc. lifted its position in shares of Badger Meter by 0.4% in the 2nd quarter. Farrow Financial Inc. now owns 20,064 shares of the scientific and technical instruments company’s stock worth $3,739,000 after acquiring an additional 85 shares during the period. Xponance Inc. grew its holdings in shares of Badger Meter by 5.0% during the 2nd quarter. Xponance Inc. now owns 1,871 shares of the scientific and technical instruments company’s stock worth $349,000 after purchasing an additional 89 shares in the last quarter. Finally, Argus Investors Counsel Inc. increased its position in shares of Badger Meter by 4.8% during the second quarter. Argus Investors Counsel Inc. now owns 2,401 shares of the scientific and technical instruments company’s stock valued at $447,000 after purchasing an additional 109 shares during the period. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on BMI shares. Robert W. Baird raised their target price on Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Stifel Nicolaus upped their target price 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 raised their price target on shares of Badger Meter from $216.00 to $235.00 and gave the stock a “buy” rating in a research note 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $214.75.

Badger Meter Stock Performance

Badger Meter stock opened at $221.00 on Friday. Badger Meter, Inc. has a 52 week low of $139.50 and a 52 week high of $230.76. The firm has a market cap 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. The business’s fifty day moving average is $215.34 and its two-hundred day moving average is $201.99.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share 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 company had revenue of $208.44 million during the quarter, compared to analyst estimates of $212.08 million. During the same quarter in the previous year, the business posted $0.88 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts predict that Badger Meter, Inc. will post 4.19 earnings per share for the current year.

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 yield of 0.62%. 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.