Zurcher Kantonalbank Zurich Cantonalbank Has $18.19 Million Position in Badger Meter, Inc. (NYSE:BMI)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Badger Meter, Inc. (NYSE:BMI) by 26.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,270 shares of the scientific and technical instruments company’s stock after buying an additional 17,483 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.28% of Badger Meter worth $18,187,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMI. Blue Trust Inc. grew its holdings 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 acquiring an additional 183 shares in the last quarter. GAMMA Investing LLC grew its stake in Badger Meter by 46.3% in the second quarter. GAMMA Investing LLC now owns 499 shares of the scientific and technical instruments company’s stock valued at $93,000 after purchasing an additional 158 shares in the last quarter. CWM LLC increased its position in Badger Meter by 40.9% in the 2nd quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company’s stock worth $107,000 after purchasing an additional 167 shares during the last quarter. Annex Advisory Services LLC purchased a new stake in shares of Badger Meter during the 3rd quarter worth about $204,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Badger Meter during the 2nd quarter valued at about $207,000. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Up 0.2 %

NYSE:BMI opened at $216.82 on Friday. The company’s 50 day moving average is $215.58 and its 200-day moving average is $202.76. Badger Meter, Inc. has a 12 month low of $139.50 and a 12 month high of $230.76. The firm has a market cap 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:BMI) last released its earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The firm had revenue of $208.44 million for the quarter, compared to analyst estimates of $212.08 million. Badger Meter had a return on equity of 21.56% and a net margin of 14.80%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. Research analysts predict that Badger Meter, Inc. will post 4.19 EPS for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Friday, November 22nd. Badger Meter’s dividend payout ratio (DPR) is currently 33.75%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BMI. Robert W. Baird raised their price objective on shares of Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Stifel Nicolaus raised their price target on shares of Badger Meter from $189.00 to $203.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, Maxim Group upped their price objective 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently 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.