8,330 Badger Meter, Inc. $BMI Shares Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Badger Meter stake by 202.4%, buying 8,330 shares in the third quarter to hold 12,446 shares worth about $1.54 million.
• Analysts’ consensus rating is Hold, with an average price target of $166.33; six analysts rate the stock Buy, five Hold, and one Sell.
• Badger Meter reported quarterly EPS of $1.24, slightly above estimates, while revenue of $230.3 million missed forecasts. Its quarterly dividend increased to $0.44 per share from $0.40.

CenterBook Partners LP increased its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 202.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,446 shares of the scientific and technical instruments company's stock after purchasing an additional 8,330 shares during the quarter. CenterBook Partners LP's holdings in Badger Meter were worth $1,538,000 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 BMI. Public Employees Retirement System of Ohio acquired a new stake in shares of Badger Meter in the second quarter worth $27,000. Dunhill Financial LLC acquired a new position in Badger Meter in the 2nd quarter valued at $28,000. Integrated Wealth Concepts LLC bought a new position in Badger Meter in the 2nd quarter worth $29,000. Frazier Financial Advisors LLC bought a new position in Badger Meter in the 2nd quarter worth $30,000. Finally, State of Wyoming bought a new position in Badger Meter in the 2nd quarter worth $43,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Badger Meter from $172.00 to $170.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Northcoast Research lowered Badger Meter from a "buy" rating to a "neutral" rating in a research note on Tuesday, October 27th. Robert W. Baird set a $175.00 target price on Badger Meter in a research note on Friday, October 23rd. Argus upgraded Badger Meter from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research note on Tuesday, October 27th. Finally, Barclays raised their target price on Badger Meter from $111.00 to $112.00 and gave the company an "underweight" rating in a report on Friday, October 23rd. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Badger Meter currently has a consensus rating of "Hold" and an average price target of $166.33.

Badger Meter Stock Up 0.6%

Shares of BMI opened at $159.20 on Tuesday. The company has a 50-day moving average price of $135.39 and a two-hundred day moving average price of $138.75. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 37.82, a P/E/G ratio of 4.02 and a beta of 0.63. Badger Meter, Inc. has a 12 month low of $112.09 and a 12 month high of $192.28.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.01. Badger Meter had a return on equity of 18.49% and a net margin of 14.36%. The company had revenue of $230.30 million for the quarter, compared to analyst estimates of $240.35 million. During the same period in the prior year, the company posted $1.19 EPS. The company's revenue was up .1% compared to the same quarter last year. Equities research analysts expect that Badger Meter, Inc. will post 4.53 EPS for the current fiscal year.

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Badger Meter's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 28th. Badger Meter's dividend payout ratio (DPR) is currently 40.65%.

About Badger Meter

Badger Meter, Inc is a Milwaukee-based manufacturer of products and systems used to measure and manage water and other fluid flows. Founded in 1905, the company serves municipal water utilities as well as commercial and industrial customers.

Its offerings include water meters, flow instrumentation and related communications technology that helps customers collect and analyze usage data. Badger Meter also provides water quality monitoring equipment and software for tracking water system performance and supporting operational decisions.

The company serves customers in North America and international markets through its sales and distribution networks.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.