Principal Financial Group Inc. Has $31.92 Million Stock Holdings in Badger Meter, Inc. (NYSE:BMI)

Principal Financial Group Inc. cut its holdings in Badger Meter, Inc. (NYSE:BMI) by 5.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,133 shares of the scientific and technical instruments company’s stock after selling 8,786 shares during the period. Principal Financial Group Inc. owned about 0.50% of Badger Meter worth $31,917,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BMI. Marshall Wace LLP bought a new position in shares of Badger Meter in the second quarter valued at about $10,622,000. Driehaus Capital Management LLC raised its position in shares of Badger Meter by 66.4% in the second quarter. Driehaus Capital Management LLC now owns 128,651 shares of the scientific and technical instruments company’s stock valued at $23,974,000 after buying an additional 51,318 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Badger Meter by 86.2% in the second quarter. Millennium Management LLC now owns 100,788 shares of the scientific and technical instruments company’s stock valued at $18,782,000 after buying an additional 46,650 shares during the period. Renaissance Technologies LLC increased its position in shares of Badger Meter by 47.1% in the second quarter. Renaissance Technologies LLC now owns 126,100 shares of the scientific and technical instruments company’s stock worth $23,499,000 after purchasing an additional 40,400 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in Badger Meter by 80.3% during the second quarter. Cubist Systematic Strategies LLC now owns 78,914 shares of the scientific and technical instruments company’s stock worth $14,706,000 after purchasing an additional 35,150 shares during the period. Institutional investors own 89.01% of the company’s stock.

Badger Meter Price Performance

Shares of Badger Meter stock opened at $226.89 on Tuesday. Badger Meter, Inc. has a 1 year low of $139.50 and a 1 year high of $230.76. The firm has a market cap of $6.67 billion, a PE ratio of 56.30, a PEG ratio of 2.81 and a beta of 0.78. The company has a 50 day simple moving average of $211.16 and a two-hundred day simple moving average of $199.88.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). The company had revenue of $208.44 million for the quarter, compared to analysts’ expectations of $212.08 million. Badger Meter had a net margin of 14.80% and a return on equity of 21.56%. Badger Meter’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. As a group, research analysts anticipate that Badger Meter, Inc. will post 4.19 earnings per share for the current year.

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.60%. The ex-dividend date is Friday, November 22nd. Badger Meter’s dividend payout ratio (DPR) is 33.75%.

Insider Buying and Selling at Badger Meter

In other Badger Meter news, VP Kimberly K. Stoll sold 1,097 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $205.00, for a total value of $224,885.00. Following the completion of the transaction, the vice president now owns 3,861 shares of the company’s stock, valued at approximately $791,505. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

BMI has been the topic of a number of research analyst reports. Stifel Nicolaus raised their target price on Badger Meter from $189.00 to $203.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird boosted their price objective on shares of Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Argus lifted their price objective on Badger Meter from $204.00 to $218.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Maxim Group increased their price target on Badger Meter from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $214.75.

Badger Meter Company Profile

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.