Oak Ridge Investments LLC Invests $2.39 Million in Badger Meter, Inc. (NYSE:BMI)

Oak Ridge Investments LLC acquired a new position in shares of Badger Meter, Inc. (NYSE:BMI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,955 shares of the scientific and technical instruments company’s stock, valued at approximately $2,393,000.

Other institutional investors have also modified their holdings of the company. Portside Wealth Group LLC raised its position in Badger Meter by 4.2% in the 2nd quarter. Portside Wealth Group LLC now owns 1,377 shares of the scientific and technical instruments company’s stock valued at $257,000 after purchasing an additional 55 shares during the last quarter. Private Advisor Group LLC increased its stake in Badger Meter by 4.5% in the 3rd quarter. Private Advisor Group LLC now owns 1,635 shares of the scientific and technical instruments company’s stock valued at $357,000 after buying an additional 71 shares during the period. Farrow Financial Inc. increased its stake in Badger Meter by 0.4% in the 2nd quarter. Farrow Financial Inc. now owns 20,064 shares of the scientific and technical instruments company’s stock valued at $3,739,000 after buying an additional 85 shares during the period. Xponance Inc. increased its stake in Badger Meter by 5.0% in the 2nd quarter. Xponance Inc. now owns 1,871 shares of the scientific and technical instruments company’s stock valued at $349,000 after buying an additional 89 shares during the period. Finally, Argus Investors Counsel Inc. increased its stake in Badger Meter by 4.8% in the 2nd quarter. Argus Investors Counsel Inc. now owns 2,401 shares of the scientific and technical instruments company’s stock valued at $447,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Insider Buying and Selling

In other Badger Meter news, VP Kimberly K. Stoll sold 1,097 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $205.00, for a total value of $224,885.00. Following the completion of the sale, the vice president now owns 3,861 shares of the company’s stock, valued at $791,505. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Badger Meter Stock Down 2.4 %

Badger Meter stock opened at $199.97 on Friday. Badger Meter, Inc. has a 52 week low of $136.31 and a 52 week high of $230.76. The firm’s 50-day simple moving average is $210.14 and its 200 day simple moving average is $197.68. The firm has a market capitalization of $5.88 billion, a PE ratio of 49.62, a P/E/G ratio of 3.07 and a beta of 0.77.

Badger Meter (NYSE:BMI) last released its earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The firm had revenue of $208.44 million during the quarter, compared to analysts’ expectations of $212.08 million. Badger Meter had a net margin of 14.44% and a return on equity of 21.42%. Badger Meter’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $0.88 earnings per share. On average, research analysts expect that Badger Meter, Inc. will post 4.1 EPS for the current fiscal year.

Badger Meter Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Friday, August 23rd. This is an increase from Badger Meter’s previous quarterly dividend of $0.27. Badger Meter’s dividend payout ratio is 33.75%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Argus boosted their price objective on shares of Badger Meter from $204.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Maxim Group boosted 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 stock a “neutral” rating in a research note on Friday, October 18th. StockNews.com cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus upped their price target on shares of Badger Meter from $189.00 to $203.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $214.75.

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.