Rock Point Advisors LLC Sells 100 Shares of Badger Meter, Inc. (NYSE:BMI)

Rock Point Advisors LLC decreased its position in shares of Badger Meter, Inc. (NYSE:BMI) by 5.6% in the 3rd quarter, Holdings Channel reports. The firm owned 1,700 shares of the scientific and technical instruments company’s stock after selling 100 shares during the quarter. Rock Point Advisors LLC’s holdings in Badger Meter were worth $371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Portside Wealth Group LLC boosted its position in Badger Meter by 4.2% during the second quarter. Portside Wealth Group LLC now owns 1,377 shares of the scientific and technical instruments company’s stock valued at $257,000 after acquiring an additional 55 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Badger Meter by 4.5% during 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 purchasing an additional 71 shares in the last quarter. Farrow Financial Inc. grew its stake in Badger Meter by 0.4% during the second quarter. Farrow Financial Inc. now owns 20,064 shares of the scientific and technical instruments company’s stock worth $3,739,000 after purchasing an additional 85 shares during the period. Xponance Inc. increased its holdings in Badger Meter by 5.0% in the second 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 holdings in Badger Meter by 4.8% in the second quarter. Argus Investors Counsel Inc. now owns 2,401 shares of the scientific and technical instruments company’s stock worth $447,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BMI has been the subject of several recent analyst reports. Robert W. Baird raised their price objective on shares of 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 raised their price target on shares of Badger Meter from $189.00 to $203.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Maxim Group upped their price objective on shares of Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, StockNews.com downgraded 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 given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $214.75.

Badger Meter Stock Down 0.7 %

BMI traded down $1.65 during trading on Tuesday, hitting $218.59. 7,610 shares of the company’s stock were exchanged, compared to its average volume of 179,126. Badger Meter, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $230.76. The stock has a market cap of $6.43 billion, a P/E ratio of 54.66, a PEG ratio of 2.77 and a beta of 0.78. The business’s 50 day moving average is $215.51 and its two-hundred day moving average is $202.28.

Badger Meter (NYSE:BMI) last posted its 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). The business had revenue of $208.44 million during the quarter, compared to analyst estimates of $212.08 million. Badger Meter had a return on equity of 21.56% and a net margin of 14.80%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. On average, sell-side analysts forecast 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. Stockholders of record on Friday, November 22nd will be issued 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 is presently 33.75%.

About Badger Meter

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.