Badger Meter, Inc. $BMI Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its stake in Badger Meter, Inc. (NYSE:BMI) by 1,239.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,961 shares of the scientific and technical instruments company’s stock after acquiring an additional 119,333 shares during the period. Millennium Management LLC owned 0.44% of Badger Meter worth $24,535,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in Badger Meter by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 92 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Badger Meter by 83.0% in the first quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company’s stock valued at $37,000 after acquiring an additional 88 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Badger Meter in the first quarter valued at $37,000. Heck Capital Advisors LLC acquired a new stake in Badger Meter in the fourth quarter valued at $39,000. Finally, Olde Wealth Management LLC acquired a new stake in Badger Meter in the first quarter valued at $41,000. 89.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BMI. Raymond James Financial began coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They issued a “market perform” rating on the stock. Robert W. Baird increased their target price on shares of Badger Meter from $216.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 target price on shares of Badger Meter in a report on Wednesday, July 23rd. Royal Bank Of Canada dropped their target price on shares of Badger Meter from $284.00 to $264.00 and set an “outperform” rating on the stock in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Badger Meter in a report on Tuesday. They set an “overweight” rating and a $230.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Badger Meter currently has a consensus rating of “Moderate Buy” and an average price target of $237.00.

Badger Meter Stock Performance

Badger Meter stock opened at $181.11 on Friday. The company has a 50-day simple moving average of $199.94 and a 200-day simple moving average of $212.72. The firm has a market capitalization of $5.34 billion, a P/E ratio of 39.46, a P/E/G ratio of 3.12 and a beta of 0.87. Badger Meter, Inc. has a one year low of $162.17 and a one year high of $256.08.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.02). The firm had revenue of $238.10 million for the quarter, compared to the consensus estimate of $235.38 million. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The firm’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 EPS. As a group, sell-side analysts forecast that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were given a $0.40 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. This is a boost from Badger Meter’s previous quarterly dividend of $0.34. Badger Meter’s payout ratio is currently 34.86%.

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.