State of New Jersey Common Pension Fund D Has $2.40 Million Stock Holdings in Badger Meter, Inc. (NYSE:BMI)

State of New Jersey Common Pension Fund D trimmed its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,989 shares of the scientific and technical instruments company’s stock after selling 314 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Badger Meter were worth $2,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new position in shares of Badger Meter in the 2nd quarter worth approximately $10,622,000. Driehaus Capital Management LLC lifted its holdings in Badger Meter by 66.4% in the second quarter. Driehaus Capital Management LLC now owns 128,651 shares of the scientific and technical instruments company’s stock valued at $23,974,000 after buying an additional 51,318 shares during the period. Millennium Management LLC boosted its position in Badger Meter by 86.2% during the second quarter. Millennium Management LLC now owns 100,788 shares of the scientific and technical instruments company’s stock valued at $18,782,000 after acquiring an additional 46,650 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Badger Meter by 47.1% during the 2nd quarter. Renaissance Technologies LLC now owns 126,100 shares of the scientific and technical instruments company’s stock worth $23,499,000 after acquiring an additional 40,400 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in shares of Badger Meter by 80.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 78,914 shares of the scientific and technical instruments company’s stock worth $14,706,000 after acquiring an additional 35,150 shares in the last quarter. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Stock Down 0.6 %

Shares of NYSE:BMI opened at $223.59 on Thursday. Badger Meter, Inc. has a twelve month low of $139.50 and a twelve month high of $230.76. The stock’s 50 day moving average is $212.68 and its 200-day moving average is $200.62. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 55.48, a PEG ratio of 2.82 and a beta of 0.78.

Badger Meter (NYSE:BMI) last released its quarterly earnings data 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 return on equity of 21.56% and a net margin of 14.80%. The business had revenue of $208.44 million for the quarter, compared to analyst estimates of $212.08 million. During the same quarter in the previous year, the company posted $0.88 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts anticipate that Badger Meter, Inc. will post 4.19 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a $0.34 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.36 annualized dividend and a yield of 0.61%. Badger Meter’s payout ratio is 33.75%.

Insider Buying and Selling at Badger Meter

In other news, VP Kimberly K. Stoll sold 1,097 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 directly owns 3,861 shares of the company’s stock, valued at $791,505. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BMI. StockNews.com lowered Badger Meter from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird increased their price target on Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Stifel Nicolaus lifted their price objective on shares of Badger Meter from $189.00 to $203.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Argus increased their target price on shares of Badger Meter from $204.00 to $218.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Maxim Group lifted their price target 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.