Candriam S.C.A. Acquires 6,103 Shares of Badger Meter, Inc. $BMI

Candriam S.C.A. raised its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 17.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,067 shares of the scientific and technical instruments company’s stock after buying an additional 6,103 shares during the quarter. Candriam S.C.A.’s holdings in Badger Meter were worth $7,512,000 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 BMI. State Street Corp boosted 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 last quarter. Geode Capital Management LLC raised its stake in Badger Meter by 2.3% in the second quarter. Geode Capital Management LLC now owns 876,519 shares of the scientific and technical instruments company’s stock valued at $215,464,000 after purchasing an additional 19,340 shares in the last quarter. Invesco Ltd. lifted its position in Badger Meter by 27.1% during the second 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 during the last quarter. Westfield Capital Management Co. LP lifted its position 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 valued at $150,108,000 after purchasing an additional 268,799 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Badger Meter by 108.2% in 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 in the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Up 1.7%

Shares of NYSE:BMI opened at $153.21 on Wednesday. The stock has a market cap of $4.52 billion, a PE ratio of 31.92, a PEG ratio of 2.42 and a beta of 0.90. The company’s fifty day moving average is $170.84 and its 200 day moving average is $177.84. Badger Meter, Inc. has a 52 week low of $139.14 and a 52 week high of $256.08.

Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). The company had revenue of $220.71 million for the quarter, compared to the consensus estimate of $232.30 million. Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $1.04 earnings per share. Sell-side analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current year.

Insider Transactions at Badger Meter

In related news, EVP Robert Wrocklage purchased 1,650 shares of Badger Meter stock in a transaction that occurred on Monday, February 9th. The shares were acquired at an average cost of $152.35 per share, for a total transaction of $251,377.50. Following the transaction, the executive vice president directly owned 19,541 shares in the company, valued at $2,977,071.35. The trade was a 9.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BMI has been the topic of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Badger Meter in a research report on Wednesday, January 21st. Stifel Nicolaus set a $166.00 target price on Badger Meter and gave the company a “buy” rating in a research note on Thursday, January 29th. Royal Bank Of Canada restated an “outperform” rating and set a $191.00 price target (down previously from $229.00) on shares of Badger Meter in a research report on Thursday, January 29th. Barclays set a $136.00 price objective on Badger Meter and gave the stock an “underweight” rating in a report on Thursday, January 29th. Finally, Robert W. Baird set a $165.00 price objective on Badger Meter in a research report on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $181.88.

Badger Meter Company 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.