Teacher Retirement System of Texas Boosts Stock Holdings in Badger Meter, Inc. $BMI

Teacher Retirement System of Texas increased its stake in Badger Meter, Inc. (NYSE:BMI) by 22.9% during the 3rd quarter, Holdings Channel reports. The fund owned 28,658 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,348 shares during the quarter. Teacher Retirement System of Texas’ holdings in Badger Meter were worth $5,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northstar Asset Management Inc. increased its holdings in Badger Meter by 9.3% during the 3rd quarter. Northstar Asset Management Inc. now owns 25,225 shares of the scientific and technical instruments company’s stock worth $4,505,000 after purchasing an additional 2,143 shares during the period. Sage Mountain Advisors LLC acquired a new position in shares of Badger Meter during the third quarter worth about $221,000. QRG Capital Management Inc. increased its stake in shares of Badger Meter by 29.0% during the third quarter. QRG Capital Management Inc. now owns 1,394 shares of the scientific and technical instruments company’s stock worth $249,000 after buying an additional 313 shares during the period. Evergreen Capital Management LLC increased its stake in shares of Badger Meter by 3.5% during the third quarter. Evergreen Capital Management LLC now owns 2,982 shares of the scientific and technical instruments company’s stock worth $533,000 after buying an additional 102 shares during the period. Finally, EULAV Asset Management raised its holdings in Badger Meter by 7.7% in the third quarter. EULAV Asset Management now owns 91,200 shares of the scientific and technical instruments company’s stock valued at $16,286,000 after acquiring an additional 6,500 shares in the last quarter. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BMI has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Badger Meter from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Monday, December 8th. Robert W. Baird set a $205.00 price objective on shares of Badger Meter and gave the stock a “neutral” rating in a research report on Monday, October 20th. Barclays set a $157.00 target price on Badger Meter and gave the company an “underweight” rating in a report on Wednesday, January 7th. Stifel Nicolaus raised Badger Meter from a “hold” rating to a “buy” rating and lifted their price target for the stock from $208.00 to $215.00 in a report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Badger Meter in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $218.25.

Badger Meter Price Performance

Shares of NYSE:BMI opened at $164.59 on Wednesday. Badger Meter, Inc. has a 12 month low of $162.17 and a 12 month high of $256.08. The firm has a market capitalization of $4.85 billion, a P/E ratio of 35.02, a P/E/G ratio of 2.63 and a beta of 0.91. The company’s fifty day moving average price is $176.31 and its 200 day moving average price is $183.13.

Badger Meter Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. Badger Meter’s payout ratio is 34.04%.

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.