Citigroup Inc. Purchases 15,240 Shares of Badger Meter, Inc. (NYSE:BMI)

Citigroup Inc. increased its holdings in Badger Meter, Inc. (NYSE:BMIFree Report) by 67.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,976 shares of the scientific and technical instruments company’s stock after acquiring an additional 15,240 shares during the period. Citigroup Inc. owned about 0.13% of Badger Meter worth $8,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BMI. Blue Trust Inc. increased its position in shares of Badger Meter by 1,016.7% during the 3rd quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company’s stock valued at $44,000 after purchasing an additional 183 shares during the last quarter. GAMMA Investing LLC grew its position in Badger Meter by 46.3% during the second quarter. GAMMA Investing LLC now owns 499 shares of the scientific and technical instruments company’s stock valued at $93,000 after buying an additional 158 shares during the period. CWM LLC raised its position in Badger Meter by 40.9% in the second quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company’s stock worth $107,000 after acquiring an additional 167 shares during the period. Annex Advisory Services LLC purchased a new position in Badger Meter in the third quarter valued at about $204,000. Finally, Magnetar Financial LLC bought a new position in shares of Badger Meter during the 2nd quarter valued at approximately $207,000. 89.01% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Trading Up 0.2 %

Badger Meter stock opened at $216.82 on Friday. The firm has a 50 day simple moving average of $215.58 and a 200 day simple moving average of $202.76. Badger Meter, Inc. has a 1-year low of $139.50 and a 1-year high of $230.76. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 53.80, a P/E/G ratio of 2.72 and a beta of 0.78.

Badger Meter (NYSE:BMIGet Free Report) 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 company had revenue of $208.44 million during the quarter, compared to analysts’ expectations of $212.08 million. During the same quarter last year, the firm posted $0.88 earnings per share. Badger Meter’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Badger Meter, Inc. will post 4.19 EPS for the current year.

Badger Meter Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on BMI. Maxim Group lifted their price target 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. Robert W. Baird boosted their target price on Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Stifel Nicolaus upped their price target on Badger Meter from $189.00 to $203.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $214.75.

Get Our Latest Stock Analysis on Badger Meter

Badger Meter Company Profile

(Free Report)

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.

See Also

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

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