Royal Bank of Canada Cuts Stake in Badger Meter, Inc. $BMI

Royal Bank of Canada lessened its position in Badger Meter, Inc. (NYSE:BMI) by 18.3% in the 1st quarter, Holdings Channel reports. The fund owned 145,889 shares of the scientific and technical instruments company’s stock after selling 32,671 shares during the period. Royal Bank of Canada’s holdings in Badger Meter were worth $22,226,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Badger Meter by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 3,979,893 shares of the scientific and technical instruments company’s stock valued at $694,133,000 after purchasing an additional 19,585 shares during the period. State Street Corp increased its position in 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 worth $358,315,000 after purchasing an additional 20,122 shares during the period. Invesco Ltd. increased its position in Badger Meter by 20.9% during the 3rd quarter. Invesco Ltd. now owns 970,219 shares of the scientific and technical instruments company’s stock worth $173,262,000 after purchasing an additional 168,053 shares during the period. Geode Capital Management LLC raised its stake in shares of Badger Meter by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 876,854 shares of the scientific and technical instruments company’s stock worth $152,951,000 after buying an additional 4,035 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in shares of Badger Meter by 39.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 754,402 shares of the scientific and technical instruments company’s stock worth $131,592,000 after buying an additional 212,448 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Insider Buying and Selling

In other news, VP Edward F. Callahan bought 751 shares of the stock in a transaction on Thursday, July 30th. The shares were bought at an average price of $135.25 per share, with a total value of $101,572.75. Following the completion of the acquisition, the vice president owned 1,937 shares of the company’s stock, valued at approximately $261,979.25. This trade represents a 63.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Badger Meter Trading Down 0.4%

BMI stock opened at $139.67 on Thursday. The firm has a 50 day moving average of $136.35 and a 200-day moving average of $141.60. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.56 and a beta of 0.65. Badger Meter, Inc. has a 12-month low of $112.09 and a 12-month high of $204.00.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The business had revenue of $220.30 million for the quarter, compared to analysts’ expectations of $220.59 million. During the same quarter in the prior year, the firm posted $1.17 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. Sell-side analysts forecast that Badger Meter, Inc. will post 4.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on BMI. Robert W. Baird set a $167.00 price target on Badger Meter and gave the company an “outperform” rating in a report on Thursday, July 23rd. Seaport Research Partners set a $160.00 price objective on Badger Meter in a report on Thursday, July 23rd. Stifel Nicolaus set a $170.00 price objective on Badger Meter and gave the stock a “buy” rating in a research report on Monday, July 20th. Wall Street Zen downgraded Badger Meter from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Royal Bank Of Canada decreased their target price on shares of Badger Meter from $169.00 to $162.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $164.00.

About Badger Meter

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.