Geode Capital Management LLC Sells 12,021 Shares of Badger Meter, Inc. (NYSE:BMI)

Geode Capital Management LLC decreased its stake in Badger Meter, Inc. (NYSE:BMI) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 778,655 shares of the scientific and technical instruments company’s stock after selling 12,021 shares during the quarter. Geode Capital Management LLC owned about 2.65% of Badger Meter worth $170,391,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BMI. Private Advisor Group LLC boosted its stake in Badger Meter by 4.5% during the third quarter. Private Advisor Group LLC now owns 1,635 shares of the scientific and technical instruments company’s stock worth $357,000 after buying an additional 71 shares during the period. Bridges Investment Management Inc. purchased a new position in shares of Badger Meter during the 2nd quarter worth about $577,000. Geneva Partners LLC purchased a new stake in Badger Meter in the 3rd quarter worth about $1,120,000. Susquehanna Fundamental Investments LLC lifted its stake in Badger Meter by 72.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 19,783 shares of the scientific and technical instruments company’s stock worth $3,687,000 after purchasing an additional 8,298 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Badger Meter during the second quarter valued at approximately $230,000. Institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Performance

Shares of NYSE BMI opened at $226.31 on Monday. Badger Meter, Inc. has a 52-week low of $139.50 and a 52-week high of $239.11. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 56.16, a PEG ratio of 2.98 and a beta of 0.79. The stock has a 50 day moving average price of $217.22 and a 200 day moving average price of $204.91.

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 analysts’ expectations of $212.08 million. Badger Meter had a return on equity of 21.56% and a net margin of 14.80%. Badger Meter’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 earnings per share. Analysts forecast that Badger Meter, Inc. will post 4.19 earnings per share for the current year.

Badger Meter Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Friday, November 22nd. Badger Meter’s dividend payout ratio (DPR) is 33.75%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Robert W. Baird increased their price target on Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Maxim Group increased their target price on Badger Meter from $216.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Stifel Nicolaus boosted their target price on shares of Badger Meter from $203.00 to $208.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Badger Meter presently has a consensus rating of “Hold” and an average price target of $216.00.

Badger Meter Company 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.