OFI Invest Asset Management Has $19.52 Million Position in Badger Meter, Inc. $BMI

OFI Invest Asset Management boosted its holdings in Badger Meter, Inc. (NYSE:BMI) by 15.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,314 shares of the scientific and technical instruments company’s stock after buying an additional 14,281 shares during the quarter. OFI Invest Asset Management owned approximately 0.37% of Badger Meter worth $19,521,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Trust Point Inc. acquired a new position in Badger Meter in the 3rd quarter valued at approximately $638,000. Advisory Services Network LLC bought a new stake in shares of Badger Meter in the second quarter worth $478,000. State of Wyoming bought a new stake in shares of Badger Meter in the second quarter worth $159,000. Caxton Associates LLP acquired a new stake in Badger Meter in the second quarter valued at $1,524,000. Finally, Castleark Management LLC bought a new position in Badger Meter during the 2nd quarter worth $3,304,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Stock Performance

Badger Meter stock opened at $182.78 on Tuesday. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 3.00 and a beta of 0.93. Badger Meter, Inc. has a 52-week low of $162.17 and a 52-week high of $256.08. The stock’s 50 day moving average price is $180.43 and its two-hundred day moving average price is $195.77.

Badger Meter (NYSE:BMI) last released its earnings results on Wednesday, October 22nd. The scientific and technical instruments company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $235.65 million for the quarter, compared to the consensus estimate of $231.88 million. Badger Meter had a net margin of 15.40% and a return on equity of 21.12%. Badger Meter’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 EPS. On average, equities research analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, November 21st. Badger Meter’s dividend payout ratio is 34.04%.

Analysts Set New Price Targets

Several research analysts have commented on BMI shares. Royal Bank Of Canada set a $229.00 target price on Badger Meter and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Zacks Research raised Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, September 22nd. Robert W. Baird set a $205.00 target price on Badger Meter and gave the company a “neutral” rating in a report on Monday, October 20th. Stifel Nicolaus upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and boosted their price target for the stock from $208.00 to $215.00 in a research report on Wednesday, October 22nd. Finally, Weiss Ratings lowered shares of Badger Meter from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.00.

About Badger Meter

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.