Commonwealth Equity Services LLC Has $12.59 Million Holdings in Badger Meter, Inc. $BMI

Commonwealth Equity Services LLC raised its holdings in Badger Meter, Inc. (NYSE:BMI) by 13.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,488 shares of the scientific and technical instruments company’s stock after buying an additional 8,387 shares during the period. Commonwealth Equity Services LLC owned about 0.24% of Badger Meter worth $12,588,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Salomon & Ludwin LLC acquired a new position in shares of Badger Meter during the 3rd quarter worth approximately $38,000. Cullen Frost Bankers Inc. lifted its holdings in Badger Meter by 170.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 165 shares of the scientific and technical instruments company’s stock valued at $41,000 after purchasing an additional 104 shares during the last quarter. Global X Japan Co. Ltd. boosted its position in Badger Meter by 27.3% during the third quarter. Global X Japan Co. Ltd. now owns 266 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 57 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Badger Meter in the second quarter valued at $49,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Badger Meter in the second quarter valued at $54,000. 89.01% of the stock is owned by institutional investors and hedge funds.

Badger Meter Price Performance

Shares of NYSE BMI opened at $174.59 on Friday. The business has a fifty day moving average price of $179.09 and a two-hundred day moving average price of $189.53. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $256.08. The stock has a market capitalization of $5.15 billion, a PE ratio of 37.15, a P/E/G ratio of 2.60 and a beta of 0.91.

Badger Meter (NYSE:BMI) last issued 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 analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $235.65 million during the quarter, compared to analysts’ expectations of $231.88 million. Badger Meter had a net margin of 15.40% and a return on equity of 21.12%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. On average, equities analysts expect that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, November 21st. Badger Meter’s payout ratio is currently 34.04%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BMI. Jefferies Financial Group assumed coverage on shares of Badger Meter in a research note on Friday, December 12th. They set a “buy” rating and a $220.00 target price for the company. Weiss Ratings cut shares of Badger Meter from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Zacks Research upgraded Badger Meter from a “strong sell” rating to a “hold” rating in a report on Monday, September 22nd. Royal Bank Of Canada set a $229.00 target price on Badger Meter and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Robert W. Baird set a $205.00 price target on Badger Meter and gave the stock a “neutral” rating in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Badger Meter currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.25.

About Badger Meter

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.