Bridges Investment Management Inc. Buys 4,544 Shares of Badger Meter, Inc. $BMI

Bridges Investment Management Inc. lifted its stake in Badger Meter, Inc. (NYSE:BMI) by 37.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,820 shares of the scientific and technical instruments company’s stock after acquiring an additional 4,544 shares during the period. Bridges Investment Management Inc. owned 0.06% of Badger Meter worth $3,004,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. raised its position in shares of Badger Meter by 170.5% in the second 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 period. Canada Pension Plan Investment Board acquired a new position in Badger Meter in the 2nd quarter valued at $49,000. Salomon & Ludwin LLC acquired a new position in Badger Meter in the 3rd quarter valued at $38,000. Employees Retirement System of Texas bought a new position in Badger Meter in the 2nd quarter worth $54,000. Finally, MAI Capital Management raised its holdings in Badger Meter by 57.6% in the 2nd quarter. MAI Capital Management now owns 260 shares of the scientific and technical instruments company’s stock worth $64,000 after acquiring an additional 95 shares during the period. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BMI shares. Stifel Nicolaus set a $166.00 price objective on Badger Meter and gave the stock a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $167.00 target price on shares of Badger Meter in a report on Thursday. JPMorgan Chase & Co. cut their price target on Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, January 29th. Argus cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Barclays set a $136.00 price objective on shares of Badger Meter and gave the stock an “underweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Badger Meter currently has a consensus rating of “Hold” and an average price target of $181.88.

Badger Meter Stock Performance

NYSE:BMI opened at $151.67 on Tuesday. The company has a 50-day moving average of $174.24 and a 200-day moving average of $180.49. Badger Meter, Inc. has a 52 week low of $139.14 and a 52 week high of $256.08. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.33 and a beta of 0.90.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.01). The business had revenue of $220.71 million during the quarter, compared to analyst estimates of $232.30 million. Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the company earned $1.04 EPS. Sell-side analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, November 21st. Badger Meter’s dividend payout ratio (DPR) is 33.33%.

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.