Institute for Wealth Management LLC. Lowers Stake in Badger Meter, Inc. $BMI

Institute for Wealth Management LLC. cut its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 5.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,077 shares of the scientific and technical instruments company’s stock after selling 62 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Badger Meter were worth $264,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in Badger Meter by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 92 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Badger Meter by 83.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 88 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Badger Meter during the 1st quarter worth approximately $37,000. Olde Wealth Management LLC acquired a new stake in Badger Meter during the 1st quarter worth approximately $41,000. Finally, Global X Japan Co. Ltd. acquired a new stake in Badger Meter during the 1st quarter worth approximately $45,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Price Performance

Shares of NYSE:BMI opened at $179.74 on Friday. The company’s fifty day moving average price is $183.37 and its 200 day moving average price is $209.68. Badger Meter, Inc. has a 12 month low of $162.17 and a 12 month high of $256.08. The firm has a market capitalization of $5.30 billion, a P/E ratio of 39.16, a P/E/G ratio of 3.13 and a beta of 0.90.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.02). Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The company had revenue of $238.10 million for the quarter, compared to analyst estimates of $235.38 million. During the same quarter in the prior year, the business earned $1.12 earnings per share. Badger Meter’s revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a dividend of $0.40 per share. The ex-dividend date was Friday, August 22nd. This represents a $1.60 annualized dividend and a yield of 0.9%. This is an increase from Badger Meter’s previous quarterly dividend of $0.34. Badger Meter’s dividend payout ratio (DPR) is 34.86%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BMI shares. Stifel Nicolaus set a $224.00 target price on shares of Badger Meter in a report on Wednesday, July 23rd. JPMorgan Chase & Co. initiated coverage on shares of Badger Meter in a report on Tuesday, September 9th. They issued an “overweight” rating and a $230.00 price objective on the stock. Robert W. Baird raised their price objective on shares of Badger Meter from $216.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reduced their price objective on shares of Badger Meter from $284.00 to $264.00 and set an “outperform” rating on the stock in a report on Wednesday, July 23rd. Finally, Zacks Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a report on Monday, September 22nd. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $237.00.

About Badger Meter

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.