Badger Meter, Inc. $BMI Stock Holdings Increased by ProShare Advisors LLC

Key Points

• ProShare Advisors increased its Badger Meter stake by 22.2% in the third quarter, reaching 137,033 shares valued at approximately $16.9 million. Institutional investors and hedge funds collectively own 89.01% of the company.
• Badger Meter shares were trading at $157.81, up 6.4%, while the company’s latest earnings slightly exceeded expectations with $1.24 in EPS, though revenue of $230.3 million fell short of estimates.
• The company raised its quarterly dividend to $0.44 per share, representing a 1.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $166.33.

ProShare Advisors LLC increased its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 22.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 137,033 shares of the scientific and technical instruments company's stock after buying an additional 24,905 shares during the quarter. ProShare Advisors LLC owned 0.47% of Badger Meter worth $16,929,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new stake in shares of Badger Meter during the second quarter worth about $27,000. Dunhill Financial LLC bought a new position in Badger Meter in the second quarter valued at approximately $28,000. Integrated Wealth Concepts LLC acquired a new position in shares of Badger Meter in the second quarter valued at approximately $29,000. Frazier Financial Advisors LLC acquired a new position in shares of Badger Meter in the second quarter valued at approximately $30,000. Finally, State of Wyoming bought a new stake in shares of Badger Meter during the second quarter worth $43,000. 89.01% of the stock is owned by institutional investors and hedge funds.

Badger Meter Trading Up 6.4%

Shares of BMI opened at $157.81 on Tuesday. Badger Meter, Inc. has a 1-year low of $112.09 and a 1-year high of $192.28. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 3.53 and a beta of 0.64. The company's fifty day simple moving average is $133.20 and its 200 day simple moving average is $139.03.

Badger Meter (NYSE:BMI - Get Free Report) last posted its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $240.35 million. During the same quarter last year, the firm earned $1.19 earnings per share. The company's revenue was up .1% on a year-over-year basis. As a group, research analysts forecast that Badger Meter, Inc. will post 4.53 earnings per share for the current year.

Badger Meter Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Seaport Research Partners reaffirmed a "buy" rating and issued a $175.00 target price on shares of Badger Meter in a research note on Friday, October 23rd. Stifel Nicolaus set a $168.00 target price on Badger Meter in a research report on Friday, October 23rd. Zacks Research upgraded Badger Meter from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Robert W. Baird set a $175.00 price target on Badger Meter in a research report on Friday, October 23rd. Finally, Wall Street Zen raised shares of Badger Meter from a "sell" rating to a "hold" rating in a research report on Saturday. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Badger Meter presently has an average rating of "Hold" and a consensus price target of $166.33.

Badger Meter Company Profile

Badger Meter, Inc is a water technology company that develops and manufactures flow measurement, control and communications solutions. Its products are used to measure and manage water across municipal, commercial and industrial applications, helping customers improve operational efficiency, monitor usage and support water conservation.

The company's offerings include mechanical, ultrasonic and electromagnetic flow meters; valves and related flow-control equipment; and smart water technologies.

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