Edgestream Partners L.P. Buys 1,690 Shares of Badger Meter, Inc. (NYSE:BMI)

Edgestream Partners L.P. raised its holdings in Badger Meter, Inc. (NYSE:BMI) by 9.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,802 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,690 shares during the quarter. Edgestream Partners L.P.’s holdings in Badger Meter were worth $4,325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMI. Marshall Wace LLP bought a new position in Badger Meter in the second quarter valued at approximately $10,622,000. Driehaus Capital Management LLC boosted its stake in 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 acquiring an additional 51,318 shares during the last quarter. Millennium Management LLC boosted its stake in 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 acquiring an additional 46,650 shares during the last quarter. Renaissance Technologies LLC boosted its stake in 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 valued at $23,499,000 after acquiring an additional 40,400 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Badger Meter by 80.3% in the second quarter. Cubist Systematic Strategies LLC now owns 78,914 shares of the scientific and technical instruments company’s stock valued at $14,706,000 after acquiring an additional 35,150 shares during the last quarter. 89.01% of the stock is owned by institutional investors.

Badger Meter Stock Performance

BMI opened at $216.82 on Friday. The firm’s fifty day moving average is $215.58 and its two-hundred day moving average is $202.82. The firm has a market cap of $6.38 billion, a PE ratio of 53.80, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. Badger Meter, Inc. has a twelve month low of $139.50 and a twelve month high of $230.76.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Thursday, October 17th. The scientific and technical instruments company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). Badger Meter had a return on equity of 21.56% and a net margin of 14.80%. The company had revenue of $208.44 million for the quarter, compared to analyst estimates of $212.08 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. Equities analysts forecast that Badger Meter, Inc. will post 4.19 EPS for the current fiscal year.

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.63%. Badger Meter’s payout ratio is 33.75%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Badger Meter from $189.00 to $203.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Robert W. Baird increased their target price on shares of Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Maxim Group increased their target price on shares of 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 given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $214.75.

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.