Bank of Montreal Can Reduces Position in Badger Meter, Inc. $BMI

Bank of Montreal Can lowered its stake in Badger Meter, Inc. (NYSE:BMI) by 18.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,318 shares of the scientific and technical instruments company’s stock after selling 2,859 shares during the period. Bank of Montreal Can’s holdings in Badger Meter were worth $3,017,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its stake in Badger Meter by 83.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company’s stock worth $37,000 after acquiring an additional 88 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Badger Meter in the first quarter valued at about $37,000. Cullen Frost Bankers Inc. raised its stake 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 worth $41,000 after purchasing an additional 104 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Badger Meter during the first quarter worth about $67,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Badger Meter during the second quarter worth about $80,000. 89.01% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Stock Performance

NYSE:BMI opened at $185.58 on Thursday. The stock has a market capitalization of $5.47 billion, a PE ratio of 39.49, a P/E/G ratio of 3.02 and a beta of 0.94. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $256.08. The company has a fifty day moving average of $180.31 and a two-hundred day moving average of $207.95.

Badger Meter (NYSE:BMI) last announced its earnings results on Wednesday, October 22nd. The scientific and technical instruments company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. Badger Meter had a net margin of 15.40% and a return on equity of 21.12%. The business had revenue of $235.65 million for the quarter, compared to analyst estimates of $231.88 million. During the same quarter last year, the business earned $1.08 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts forecast that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BMI shares. JPMorgan Chase & Co. began coverage on shares of Badger Meter in a report on Tuesday, September 9th. They issued an “overweight” rating and a $230.00 price target on the stock. Royal Bank Of Canada set a $229.00 price objective on shares of Badger Meter and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Robert W. Baird set a $205.00 price objective on shares of Badger Meter and gave the stock a “neutral” rating in a research note on Monday, October 20th. Weiss Ratings cut shares of Badger Meter from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, Stifel Nicolaus raised shares of Badger Meter from a “hold” rating to a “buy” rating and upped their price target for the company from $208.00 to $215.00 in a report on Wednesday, October 22nd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $227.33.

Badger Meter 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.