Y Intercept Hong Kong Ltd Acquires 27,026 Shares of Badger Meter, Inc. $BMI

Y Intercept Hong Kong Ltd boosted its holdings in Badger Meter, Inc. (NYSE:BMI) by 3,088.7% in the third quarter, HoldingsChannel reports. The firm owned 27,901 shares of the scientific and technical instruments company’s stock after purchasing an additional 27,026 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Badger Meter were worth $4,983,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. State Street Corp lifted its position in shares of Badger Meter by 1.4% during the 2nd quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company’s stock valued at $358,315,000 after acquiring an additional 20,122 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Badger Meter by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 876,519 shares of the scientific and technical instruments company’s stock worth $215,464,000 after purchasing an additional 19,340 shares in the last quarter. Invesco Ltd. increased its stake in Badger Meter by 27.1% during the 2nd quarter. Invesco Ltd. now owns 802,166 shares of the scientific and technical instruments company’s stock valued at $196,491,000 after purchasing an additional 171,275 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Badger Meter by 78.1% during the second quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock worth $150,108,000 after buying an additional 268,799 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Badger Meter by 108.2% during the second quarter. Bank of America Corp DE now owns 342,099 shares of the scientific and technical instruments company’s stock valued at $83,797,000 after buying an additional 177,781 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Stock Down 1.5%

Shares of Badger Meter stock opened at $169.51 on Friday. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08. The stock’s 50-day simple moving average is $176.48 and its 200-day simple moving average is $184.51. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 2.56 and a beta of 0.91.

Badger Meter Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were issued a $0.40 dividend. The ex-dividend date was Friday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Badger Meter’s payout ratio is currently 34.04%.

Analysts Set New Price Targets

BMI has been the subject of a number of analyst reports. Stifel Nicolaus upgraded Badger Meter from a “hold” rating to a “buy” rating and lifted their price target for the company from $208.00 to $215.00 in a research note on Wednesday, October 22nd. Jefferies Financial Group started coverage on shares of Badger Meter in a research note on Friday, December 12th. They issued a “buy” rating and a $220.00 price objective for the company. Barclays set a $157.00 target price on Badger Meter and gave the company an “underweight” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada set a $229.00 price objective on Badger Meter and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, Robert W. Baird set a $205.00 target price on shares of Badger Meter and gave the stock a “neutral” rating in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.25.

Badger Meter Profile

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.