Badger Meter, Inc. $BMI Holdings Reduced by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 17.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,488 shares of the scientific and technical instruments company’s stock after selling 4,262 shares during the period. Assenagon Asset Management S.A. owned approximately 0.07% of Badger Meter worth $3,659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Maryland State Retirement & Pension System lifted its holdings in Badger Meter by 0.6% in the second quarter. Maryland State Retirement & Pension System now owns 8,649 shares of the scientific and technical instruments company’s stock worth $2,119,000 after purchasing an additional 54 shares during the period. Norway Savings Bank raised its position in shares of Badger Meter by 2.1% during the 2nd quarter. Norway Savings Bank now owns 2,775 shares of the scientific and technical instruments company’s stock worth $680,000 after buying an additional 57 shares in the last quarter. Journey Strategic Wealth LLC raised its position in shares of Badger Meter by 4.6% during the 2nd quarter. Journey Strategic Wealth LLC now owns 1,296 shares of the scientific and technical instruments company’s stock worth $317,000 after buying an additional 57 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Badger Meter by 6.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,039 shares of the scientific and technical instruments company’s stock worth $255,000 after acquiring an additional 60 shares during the period. Finally, Monument Capital Management lifted its stake in shares of Badger Meter by 0.4% in the 2nd quarter. Monument Capital Management now owns 15,588 shares of the scientific and technical instruments company’s stock worth $3,818,000 after acquiring an additional 60 shares during the period. 89.01% of the stock is owned by institutional investors.

Badger Meter Price Performance

BMI opened at $182.78 on Tuesday. The company has a market capitalization of $5.39 billion, a PE ratio of 38.89, a price-to-earnings-growth ratio of 3.00 and a beta of 0.93. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $256.08. The business has a 50-day moving average of $180.43 and a 200-day moving average of $195.77.

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

Badger Meter Announces Dividend

The company 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. The ex-dividend date was Friday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Badger Meter’s payout ratio is currently 34.04%.

Analysts Set New Price Targets

Several equities research analysts recently commented on BMI shares. Stifel Nicolaus raised Badger Meter from a “hold” rating to a “buy” rating and boosted their target price for the stock from $208.00 to $215.00 in a report on Wednesday, October 22nd. Robert W. Baird set a $205.00 price objective on Badger Meter and gave the stock a “neutral” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. cut their price objective on Badger Meter from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Monday, December 8th. Jefferies Financial Group initiated coverage on Badger Meter in a report on Friday, December 12th. They set a “buy” rating and a $220.00 target price on the stock. Finally, Royal Bank Of Canada set a $229.00 price target on shares of Badger Meter and gave the company an “outperform” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Badger Meter presently has an average rating of “Moderate Buy” and a consensus price target of $227.00.

Badger Meter Profile

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.