VIRGINIA RETIREMENT SYSTEMS ET Al Sells 6,600 Shares of Badger Meter, Inc. $BMI

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its holdings in Badger Meter, Inc. (NYSE:BMI) by 23.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,050 shares of the scientific and technical instruments company’s stock after selling 6,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Badger Meter were worth $2,601,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Badger Meter by 8.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,024 shares of the scientific and technical instruments company’s stock worth $127,000 after purchasing an additional 82 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of Badger Meter by 2.4% during the second quarter. Benjamin Edwards Inc. now owns 3,680 shares of the scientific and technical instruments company’s stock worth $546,000 after purchasing an additional 88 shares during the period. Norway Savings Bank increased its holdings in Badger Meter by 3.2% in the third quarter. Norway Savings Bank now owns 4,133 shares of the scientific and technical instruments company’s stock valued at $511,000 after purchasing an additional 127 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Badger Meter in the second quarter valued at about $27,000. Finally, Dunhill Financial LLC acquired a new position in Badger Meter in the second quarter valued at about $28,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Stock Up 6.4%

BMI stock opened at $157.81 on Tuesday. Badger Meter, Inc. has a twelve month low of $112.09 and a twelve month high of $192.28. The business has a 50 day moving average price of $133.20 and a two-hundred day moving average price of $139.03. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 3.53 and a beta of 0.64.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.01. Badger Meter had a return on equity of 18.49% and a net margin of 14.36%. The business had revenue of $230.30 million during the quarter, compared to analysts’ expectations of $240.35 million. During the same quarter last year, the company posted $1.19 earnings per share. Badger Meter’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts anticipate that Badger Meter, Inc. will post 4.53 EPS for the current fiscal year.

Badger Meter Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.1%. This is a boost from Badger Meter’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 28th. Badger Meter’s dividend payout ratio (DPR) is 40.65%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus set a $168.00 price target on shares of Badger Meter in a research report on Friday, October 23rd. Robert W. Baird set a $175.00 price objective on shares of Badger Meter in a report on Friday, October 23rd. Seaport Research Partners reaffirmed a “buy” rating and issued a $175.00 target price on shares of Badger Meter in a research note on Friday, October 23rd. Zacks Research raised shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Argus upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, October 27th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Badger Meter currently has an average rating of “Hold” and an average price target of $166.33.

Badger Meter Company Profile

Badger Meter, Inc is a water technology company that develops and manufactures flow measurement, control and communications solutions. Its products are used to measure and manage water across municipal, commercial and industrial applications, helping customers improve operational efficiency, monitor usage and support water conservation.

The company’s offerings include mechanical, ultrasonic and electromagnetic flow meters; valves and related flow-control equipment; and smart water technologies.