Assenagon Asset Management S.A. Has $6.07 Million Stock Holdings in Badger Meter, Inc. $BMI

Key Points

• Assenagon Asset Management increased its Badger Meter position by 177.1% in the second quarter, bringing its holdings to 40,888 shares worth approximately $6.07 million. Institutional investors collectively own 89.01% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $164.00; targets range from $112 to $170.
• Badger Meter reported quarterly EPS of $1.02, narrowly exceeding estimates, while revenue of $220.3 million fell 6.6% year over year. Shares opened at $135.69, down 0.6%.

Assenagon Asset Management S.A. lifted its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 177.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 40,888 shares of the scientific and technical instruments company's stock after purchasing an additional 26,132 shares during the quarter. Assenagon Asset Management S.A. owned 0.14% of Badger Meter worth $6,067,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Badger Meter by 0.5% during the 4th 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 in the last quarter. State Street Corp raised 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. Invesco Ltd. grew its stake in shares of Badger Meter by 20.9% during the third 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 grew its stake in shares of Badger Meter by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 876,854 shares of the scientific and technical instruments company's stock worth $152,951,000 after purchasing an additional 4,035 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in Badger Meter by 39.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 754,402 shares of the scientific and technical instruments company's stock valued at $131,592,000 after purchasing an additional 212,448 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on BMI shares. Seaport Research Partners set a $160.00 target price on Badger Meter in a research note on Thursday, July 23rd. JPMorgan Chase & Co. lowered their price target on Badger Meter from $172.00 to $170.00 and set an "overweight" rating for the company in a research note on Thursday, July 23rd. Robert W. Baird set a $167.00 price objective on shares of Badger Meter and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Barclays reissued an "underweight" rating and set a $112.00 price objective (up from $109.00) on shares of Badger Meter in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised shares of Badger Meter from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $164.00.

Badger Meter Stock Down 0.6%

Shares of Badger Meter stock opened at $135.69 on Wednesday. The business's 50 day moving average is $137.35 and its 200-day moving average is $140.66. Badger Meter, Inc. has a 12-month low of $112.09 and a 12-month high of $204.00. The stock has a market cap of $3.93 billion, a P/E ratio of 31.70, a P/E/G ratio of 2.49 and a beta of 0.65.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.01. The firm had revenue of $220.30 million during the quarter, compared to analysts' expectations of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The company's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.17 earnings per share. On average, sell-side analysts expect that Badger Meter, Inc. will post 4.43 EPS for the current year.

Insider Transactions at Badger Meter

In other news, VP Edward F. Callahan bought 751 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the purchase, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.00% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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