The Manufacturers Life Insurance Company lowered its position in shares of Badger Meter, Inc. (NYSE:BMI) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,150 shares of the scientific and technical instruments company’s stock after selling 212 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Badger Meter worth $843,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Badger Meter by 4.7% during the second quarter. State Street Corp now owns 715,440 shares of the scientific and technical instruments company’s stock valued at $28,513,000 after purchasing an additional 32,322 shares during the period. Voya Investment Management LLC raised its holdings in shares of Badger Meter by 8.7% during the second quarter. Voya Investment Management LLC now owns 13,968 shares of the scientific and technical instruments company’s stock valued at $557,000 after purchasing an additional 1,121 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Badger Meter by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,127,376 shares of the scientific and technical instruments company’s stock valued at $44,926,000 after purchasing an additional 10,712 shares during the period. Suntrust Banks Inc. raised its holdings in shares of Badger Meter by 3.3% during the second quarter. Suntrust Banks Inc. now owns 32,257 shares of the scientific and technical instruments company’s stock valued at $1,285,000 after purchasing an additional 1,033 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Badger Meter by 3.7% during the second quarter. California Public Employees Retirement System now owns 81,400 shares of the scientific and technical instruments company’s stock valued at $3,244,000 after purchasing an additional 2,900 shares during the period. 83.87% of the stock is currently owned by institutional investors and hedge funds.

In other Badger Meter news, VP Beverly L. P. Smiley sold 7,550 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $45.26, for a total value of $341,713.00. Following the completion of the sale, the vice president now owns 56,449 shares in the company, valued at approximately $2,554,881.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrew J. Policano sold 8,850 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $45.67, for a total transaction of $404,179.50. Following the completion of the sale, the director now owns 32,561 shares of the company’s stock, valued at approximately $1,487,060.87. The disclosure for this sale can be found here. Insiders sold a total of 24,400 shares of company stock worth $1,111,013 in the last 90 days. 4.50% of the stock is currently owned by company insiders.

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Several equities analysts have recently weighed in on the stock. Robert W. Baird reiterated a “hold” rating and set a $44.00 price objective on shares of Badger Meter in a report on Tuesday, October 17th. Stifel Nicolaus reiterated a “hold” rating and set a $43.00 price objective (down previously from $49.00) on shares of Badger Meter in a report on Tuesday, October 17th. Sidoti upped their price objective on shares of Badger Meter from $55.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Canaccord Genuity reiterated a “hold” rating and set a $40.00 price objective on shares of Badger Meter in a report on Friday, October 6th. Finally, Zacks Investment Research lowered shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 20th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $48.00.

Shares of Badger Meter, Inc. (BMI) opened at $43.75 on Thursday. Badger Meter, Inc. has a fifty-two week low of $34.40 and a fifty-two week high of $52.10. The firm has a market cap of $1,270.76, a PE ratio of 38.29 and a beta of 0.65.

Badger Meter (NYSE:BMI) last posted its earnings results on Monday, October 16th. The scientific and technical instruments company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.08). Badger Meter had a return on equity of 12.62% and a net margin of 8.39%. The business had revenue of $100.00 million during the quarter, compared to analyst estimates of $102.86 million. During the same quarter in the prior year, the company earned $0.30 EPS. The company’s revenue was up 3.8% on a year-over-year basis. equities research analysts forecast that Badger Meter, Inc. will post 1.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.19%. Badger Meter’s dividend payout ratio is presently 45.61%.

Badger Meter Profile

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

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

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