Gabelli Funds LLC Has $14.56 Million Stock Holdings in Badger Meter, Inc. (NYSE:BMI)

Gabelli Funds LLC lowered its holdings in Badger Meter, Inc. (NYSE:BMIGet Rating) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 136,600 shares of the scientific and technical instruments company’s stock after selling 2,500 shares during the period. Gabelli Funds LLC’s holdings in Badger Meter were worth $14,556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BMI. Morgan Stanley increased its holdings in shares of Badger Meter by 19.3% during the 2nd quarter. Morgan Stanley now owns 209,531 shares of the scientific and technical instruments company’s stock worth $20,560,000 after purchasing an additional 33,956 shares during the period. Advisor Group Holdings Inc. increased its stake in Badger Meter by 24.3% during the third quarter. Advisor Group Holdings Inc. now owns 10,030 shares of the scientific and technical instruments company’s stock valued at $1,015,000 after acquiring an additional 1,958 shares during the period. Barclays PLC raised its holdings in Badger Meter by 58.6% in the 3rd quarter. Barclays PLC now owns 40,540 shares of the scientific and technical instruments company’s stock valued at $4,101,000 after acquiring an additional 14,983 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Badger Meter by 22.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 4,702 shares of the scientific and technical instruments company’s stock worth $476,000 after purchasing an additional 871 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Badger Meter by 4.7% during the third quarter. Alliancebernstein L.P. now owns 66,377 shares of the scientific and technical instruments company’s stock valued at $6,713,000 after purchasing an additional 2,974 shares during the period. 93.75% of the stock is currently owned by institutional investors.

BMI opened at $77.35 on Monday. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 36.83 and a beta of 0.86. The firm’s 50-day simple moving average is $89.67 and its 200-day simple moving average is $97.51. Badger Meter, Inc. has a twelve month low of $74.82 and a twelve month high of $112.36.

Badger Meter (NYSE:BMIGet Rating) last issued its quarterly earnings data on Tuesday, April 19th. The scientific and technical instruments company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). Badger Meter had a return on equity of 15.49% and a net margin of 11.82%. The firm had revenue of $132.40 million for the quarter, compared to the consensus estimate of $132.54 million. During the same period in the prior year, the company posted $0.47 earnings per share. Badger Meter’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that Badger Meter, Inc. will post 2.15 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 27th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 26th. This represents a $0.80 dividend on an annualized basis and a yield of 1.03%. Badger Meter’s dividend payout ratio is 38.10%.

A number of equities research analysts have weighed in on BMI shares. TheStreet downgraded shares of Badger Meter from a “b” rating to a “c+” rating in a research note on Thursday, May 5th. Stifel Nicolaus decreased their target price on shares of Badger Meter from $93.00 to $88.00 in a research report on Wednesday, April 20th. Zacks Investment Research raised shares of Badger Meter from a “sell” rating to a “hold” rating and set a $92.00 price target for the company in a research report on Thursday, April 21st. StockNews.com downgraded Badger Meter from a “buy” rating to a “hold” rating in a report on Saturday, April 23rd. Finally, Maxim Group upgraded Badger Meter from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Monday, January 31st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Badger Meter has an average rating of “Hold” and a consensus price target of $101.67.

Badger Meter Profile (Get Rating)

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities.

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

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