Prudential Financial Inc. raised its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 50,784 shares of the scientific and technical instruments company’s stock after buying an additional 1,360 shares during the period. Prudential Financial Inc.’s holdings in Badger Meter were worth $2,689,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Alps Advisors Inc. purchased a new stake in Badger Meter during the 2nd quarter valued at $665,000. TD Asset Management Inc. purchased a new stake in Badger Meter during the 2nd quarter valued at $746,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Badger Meter by 63.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,221 shares of the scientific and technical instruments company’s stock valued at $770,000 after purchasing an additional 6,670 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Badger Meter by 29.4% during the 2nd quarter. Wells Fargo & Company MN now owns 686,799 shares of the scientific and technical instruments company’s stock valued at $30,700,000 after purchasing an additional 155,838 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Badger Meter by 2.4% during the 2nd quarter. First Trust Advisors LP now owns 187,186 shares of the scientific and technical instruments company’s stock valued at $8,367,000 after purchasing an additional 4,316 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

BMI has been the topic of several recent analyst reports. Berenberg Bank initiated coverage on Badger Meter in a research note on Wednesday, October 3rd. They set a “sell” rating and a $43.00 target price on the stock. Zacks Investment Research upgraded Badger Meter from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Tuesday, October 9th. Stifel Nicolaus increased their target price on Badger Meter from $49.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, October 8th. Finally, Maxim Group initiated coverage on Badger Meter in a research note on Monday, November 5th. They set a “buy” rating and a $65.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $50.83.

In other news, VP Richard E. Johnson sold 19,000 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $50.43, for a total value of $958,170.00. Following the transaction, the vice president now directly owns 56,982 shares in the company, valued at approximately $2,873,602.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Beverly L. P. Smiley sold 4,000 shares of the firm’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $54.42, for a total value of $217,680.00. Following the completion of the transaction, the vice president now owns 48,516 shares in the company, valued at $2,640,240.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,982 shares of company stock worth $2,594,863. Company insiders own 2.80% of the company’s stock.

BMI stock opened at $54.49 on Friday. The firm has a market capitalization of $1.59 billion, a PE ratio of 39.20, a PEG ratio of 4.02 and a beta of 0.71. Badger Meter, Inc. has a 1 year low of $41.00 and a 1 year high of $57.12.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Wednesday, October 17th. The scientific and technical instruments company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.05. The firm had revenue of $110.60 million for the quarter, compared to the consensus estimate of $109.67 million. Badger Meter had a return on equity of 14.21% and a net margin of 5.58%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the business posted $0.27 EPS. As a group, research analysts predict that Badger Meter, Inc. will post 1.5 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Friday, November 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.10%. Badger Meter’s dividend payout ratio (DPR) is currently 50.42%.

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Badger Meter Profile

Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.

Further Reading: What is a Swap?

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Institutional Ownership by Quarter for Badger Meter (NYSE:BMI)

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