Badger Meter, Inc. (NYSE:BMI) Position Cut by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lowered its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,321 shares of the scientific and technical instruments company’s stock after selling 3,060 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.89% of Badger Meter worth $56,841,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in shares of Badger Meter by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 338,198 shares of the scientific and technical instruments company’s stock valued at $73,866,000 after acquiring an additional 19,848 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Badger Meter by 7.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 337,391 shares of the scientific and technical instruments company’s stock worth $62,873,000 after buying an additional 22,160 shares in the last quarter. KBC Group NV lifted its holdings in shares of Badger Meter by 0.8% in the third quarter. KBC Group NV now owns 331,769 shares of the scientific and technical instruments company’s stock valued at $72,462,000 after buying an additional 2,515 shares during the period. Congress Asset Management Co. grew its holdings in Badger Meter by 2.8% during the third quarter. Congress Asset Management Co. now owns 295,027 shares of the scientific and technical instruments company’s stock worth $64,437,000 after acquiring an additional 7,967 shares during the period. Finally, Driehaus Capital Management LLC raised its position in Badger Meter by 66.4% in the second quarter. Driehaus Capital Management LLC now owns 128,651 shares of the scientific and technical instruments company’s stock worth $23,974,000 after acquiring an additional 51,318 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BMI. Maxim Group boosted their target price on shares of Badger Meter from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Stifel Nicolaus increased their price objective on Badger Meter from $189.00 to $203.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird upped their target price on Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $214.75.

Badger Meter Stock Up 0.2 %

Shares of NYSE:BMI opened at $216.82 on Friday. The firm has a fifty day moving average of $215.58 and a two-hundred day moving average of $202.76. Badger Meter, Inc. has a 12-month low of $139.50 and a 12-month high of $230.76. The firm has a market capitalization of $6.38 billion, a P/E ratio of 53.80, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78.

Badger Meter (NYSE:BMI) last issued its earnings results 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). The firm 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 business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. Equities research analysts expect that Badger Meter, Inc. will post 4.19 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.36 annualized dividend and a dividend yield of 0.63%. Badger Meter’s dividend payout ratio (DPR) is 33.75%.

Badger Meter 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.