Wells Fargo & Company MN lessened its holdings in Badger Meter, Inc. (NYSE:BMI) by 25.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 593,682 shares of the scientific and technical instruments company’s stock after selling 201,380 shares during the period. Wells Fargo & Company MN owned approximately 2.04% of Badger Meter worth $29,091,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Zeke Capital Advisors LLC lifted its stake in Badger Meter by 83.5% during the 3rd quarter. Zeke Capital Advisors LLC now owns 13,832 shares of the scientific and technical instruments company’s stock worth $678,000 after acquiring an additional 6,293 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Badger Meter by 4.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 442,475 shares of the scientific and technical instruments company’s stock worth $22,322,000 after acquiring an additional 19,709 shares in the last quarter. Sawgrass Asset Management LLC acquired a new position in Badger Meter during the 3rd quarter worth about $269,000. American International Group Inc. lifted its stake in Badger Meter by 5.7% during the 3rd quarter. American International Group Inc. now owns 22,357 shares of the scientific and technical instruments company’s stock worth $1,095,000 after acquiring an additional 1,202 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Badger Meter by 3.7% during the 3rd quarter. Van ECK Associates Corp now owns 36,120 shares of the scientific and technical instruments company’s stock worth $1,770,000 after acquiring an additional 1,272 shares in the last quarter. 83.16% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter, Inc. (NYSE:BMI) opened at $46.45 on Friday. The stock has a market capitalization of $1,366.83, a PE ratio of 41.18 and a beta of 0.67. Badger Meter, Inc. has a 12 month low of $34.40 and a 12 month high of $52.10.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Monday, October 16th. The scientific and technical instruments company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). The company had revenue of $100.00 million during the quarter, compared to analyst estimates of $102.86 million. Badger Meter had a net margin of 8.39% and a return on equity of 12.62%. Badger Meter’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. research analysts anticipate that Badger Meter, Inc. will post 1.18 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Wednesday, November 29th. Badger Meter’s dividend payout ratio is currently 45.61%.

BMI has been the topic of several research reports. BidaskClub raised Badger Meter from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Sidoti increased their target price on Badger Meter from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Zacks Investment Research lowered Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Stifel Nicolaus initiated coverage on Badger Meter in a research note on Monday, September 18th. They set a “hold” rating and a $43.00 target price on the stock. Finally, Robert W. Baird reissued a “hold” rating and set a $44.00 target price on shares of Badger Meter in a research note on Tuesday, October 17th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $48.50.

In other Badger Meter news, CFO Richard E. Johnson sold 7,200 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $45.55, for a total value of $327,960.00. Following the sale, the chief financial officer now owns 105,976 shares of the company’s stock, valued at approximately $4,827,206.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Fred J. Begale sold 2,000 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $45.60, for a total value of $91,200.00. Following the completion of the sale, the vice president now directly owns 7,609 shares in the company, valued at approximately $346,970.40. The disclosure for this sale can be found here. 4.50% of the stock is owned by company insiders.

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About Badger Meter

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

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

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