Badger Meter, Inc. (NYSE:BMI) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 14.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 416,109 shares of the scientific and technical instruments company’s stock after selling 72,210 shares during the period. JPMorgan Chase & Co. owned approximately 1.41% of Badger Meter worth $90,882,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in Badger Meter by 1,016.7% in the 3rd quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company’s stock worth $44,000 after acquiring an additional 183 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Badger Meter by 61.3% in the third quarter. GAMMA Investing LLC now owns 805 shares of the scientific and technical instruments company’s stock worth $176,000 after purchasing an additional 306 shares during the last quarter. Annex Advisory Services LLC acquired a new stake in shares of Badger Meter during the third quarter worth about $204,000. Magnetar Financial LLC purchased a new stake in Badger Meter in the second quarter valued at approximately $207,000. Finally, ORBA Wealth Advisors L.L.C. acquired a new position in Badger Meter in the 3rd quarter worth approximately $207,000. 89.01% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Stock Performance

BMI stock opened at $211.68 on Friday. The firm’s fifty day moving average is $217.90 and its 200 day moving average is $207.59. The firm has a market cap of $6.23 billion, a PE ratio of 52.53, a P/E/G ratio of 2.98 and a beta of 0.79. Badger Meter, Inc. has a one year low of $139.50 and a one year high of $239.11.

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 for the quarter, missing the consensus estimate of $1.11 by ($0.03). Badger Meter had a net margin of 14.80% and a return on equity of 21.56%. The business had revenue of $208.44 million during the quarter, compared to analysts’ expectations of $212.08 million. During the same quarter in the prior year, the firm earned $0.88 EPS. Badger Meter’s revenue for the quarter was up 11.9% on a year-over-year basis. Research analysts predict that Badger Meter, Inc. will post 4.19 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $0.34 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.36 dividend on an annualized basis and a yield of 0.64%. Badger Meter’s dividend payout ratio is currently 33.75%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Maxim Group lifted their price objective on shares of Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Robert W. Baird upped their price target on shares of Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Stifel Nicolaus lifted their price objective on Badger Meter from $203.00 to $208.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $216.00.

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.