Teacher Retirement System of Texas Raises Stake in Badger Meter, Inc. $BMI

Teacher Retirement System of Texas lifted its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 22.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,658 shares of the scientific and technical instruments company’s stock after acquiring an additional 5,348 shares during the period. Teacher Retirement System of Texas owned 0.10% of Badger Meter worth $5,118,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Badger Meter during the second quarter worth about $83,548,000. Westfield Capital Management Co. LP grew its stake in shares of Badger Meter by 78.1% in the 2nd quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock valued at $150,108,000 after buying an additional 268,799 shares during the period. Bank of America Corp DE increased its holdings in shares of Badger Meter by 108.2% during the 2nd quarter. Bank of America Corp DE now owns 342,099 shares of the scientific and technical instruments company’s stock worth $83,797,000 after buying an additional 177,781 shares during the last quarter. Invesco Ltd. raised its position in shares of 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 buying an additional 171,275 shares during the period. Finally, Aberdeen Group plc purchased a new stake in shares of Badger Meter during the 2nd quarter valued at approximately $27,884,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Price Performance

Shares of Badger Meter stock opened at $164.59 on Wednesday. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 2.63 and a beta of 0.91. The business has a 50-day moving average of $176.31 and a 200 day moving average of $183.13. Badger Meter, Inc. has a 12 month low of $162.17 and a 12 month high of $256.08.

Badger Meter Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors 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 dividend on an annualized basis and a dividend yield of 1.0%. Badger Meter’s payout ratio is 34.04%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BMI shares. JPMorgan Chase & Co. cut their target price on Badger Meter from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Monday, December 8th. Jefferies Financial Group assumed coverage on Badger Meter in a report on Friday, December 12th. They set a “buy” rating and a $220.00 price target for the company. Robert W. Baird set a $205.00 price objective on 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 shares of Badger Meter and gave the company an “underweight” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reiterated 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 assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Badger Meter presently has an average rating of “Moderate Buy” and an average price target 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.