Intech Investment Management LLC Decreases Stake in Badger Meter, Inc. $BMI

by · The Cerbat Gem

Intech Investment Management LLC cut its stake in shares of Badger Meter, Inc. (NYSE:BMI – Free Report) by 12.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,984 shares of the scientific and technical instruments company’s stock after selling 4,107 shares during the quarter. Intech Investment Management LLC’s holdings in Badger Meter were worth $7,345,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Planning boosted its holdings in Badger Meter by 28.0% during the second quarter. Creative Planning now owns 22,847 shares of the scientific and technical instruments company’s stock worth $5,596,000 after buying an additional 4,998 shares in the last quarter. SG Americas Securities LLC increased its holdings in Badger Meter by 137.5% in the second quarter. SG Americas Securities LLC now owns 4,612 shares of the scientific and technical instruments company’s stock valued at $1,130,000 after buying an additional 2,670 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Badger Meter by 7.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,562 shares of the scientific and technical instruments company’s stock valued at $1,852,000 after acquiring an additional 524 shares during the period. Allianz SE purchased a new stake in shares of Badger Meter during the 2nd quarter worth approximately $297,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Badger Meter by 5.6% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,753 shares of the scientific and technical instruments company’s stock worth $1,654,000 after acquiring an additional 361 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BMI. JPMorgan Chase & Co. assumed coverage on Badger Meter in a research note on Tuesday, September 9th. They issued an “overweight” rating and a $230.00 price objective for the company. Stifel Nicolaus upgraded Badger Meter from a “hold” rating to a “buy” rating and raised their price target for the company from $208.00 to $215.00 in a research report on Wednesday, October 22nd. Royal Bank Of Canada set a $229.00 price target on 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 objective on shares of Badger Meter and gave the company a “neutral” rating in a research note on Monday, October 20th. Finally, Zacks Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a report on Monday, September 22nd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.33.

Check Out Our Latest Stock Analysis on Badger Meter

Badger Meter Stock Performance

Badger Meter stock opened at $175.67 on Monday. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $256.08. The stock has a fifty day moving average of $180.07 and a two-hundred day moving average of $207.30. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 3.02 and a beta of 0.94.

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

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 21st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, November 21st. Badger Meter’s payout ratio is currently 34.04%.

Badger Meter Company Profile

(Free Report)

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.

See Also

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