Fox Run Management L.L.C. Reduces Position in Badger Meter, Inc. $BMI

Fox Run Management L.L.C. cut its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 64.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,138 shares of the scientific and technical instruments company’s stock after selling 2,030 shares during the quarter. Fox Run Management L.L.C.’s holdings in Badger Meter were worth $279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Penserra Capital Management LLC purchased a new position in Badger Meter during the second quarter worth approximately $66,000. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Badger Meter in the 2nd quarter worth $641,000. Bryn Mawr Trust Advisors LLC purchased a new position in Badger Meter during the second quarter worth about $247,000. Savant Capital LLC purchased a new stake in shares of Badger Meter during the 2nd quarter valued at approximately $414,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Badger Meter in the 2nd quarter valued at $390,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Trading Down 4.4%

Shares of BMI opened at $177.73 on Friday. The stock’s 50 day moving average is $180.20 and its two-hundred day moving average is $207.74. Badger Meter, Inc. has a twelve month low of $162.17 and a twelve month high of $256.08. The firm has a market capitalization of $5.24 billion, a PE ratio of 37.81, a P/E/G ratio of 3.02 and a beta of 0.94.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Wednesday, October 22nd. The scientific and technical instruments company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. Badger Meter had a return on equity of 21.12% and a net margin of 15.40%.The business had revenue of $235.65 million during the quarter, compared to analysts’ expectations of $231.88 million. During the same period last year, the firm earned $1.08 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, sell-side analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Badger Meter’s dividend payout ratio (DPR) is 34.04%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Stifel Nicolaus upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and upped their price objective for the stock from $208.00 to $215.00 in a report on Wednesday, October 22nd. Royal Bank Of Canada set a $229.00 target price on shares of Badger Meter and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Robert W. Baird set a $205.00 price target on Badger Meter and gave the company a “neutral” rating in a research note on Monday, October 20th. Weiss Ratings lowered Badger Meter from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Badger Meter in a report on Tuesday, September 9th. They issued an “overweight” rating and a $230.00 target price on the stock. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $227.33.

Badger Meter Profile

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.