Badger Meter, Inc. $BMI Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its Badger Meter stake by 18.3% in the first quarter, selling 32,671 shares and retaining 145,889 shares valued at approximately $22.2 million. Institutional investors collectively own 89.01% of the company.
• Badger Meter slightly exceeded quarterly earnings expectations, reporting $1.02 in EPS versus a $1.01 consensus estimate, though revenue fell 6.6% year over year to $220.3 million.
• Analyst sentiment is mixed, with five Buy, five Hold and one Sell rating; the stock has an average rating of Hold and a consensus price target of $164, compared with a recent share price of $139.67.

Royal Bank of Canada reduced its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 18.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 145,889 shares of the scientific and technical instruments company's stock after selling 32,671 shares during the quarter. Royal Bank of Canada owned approximately 0.50% of Badger Meter worth $22,226,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new stake in Badger Meter during the fourth quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd increased its stake in Badger Meter by 76.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company's stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. acquired a new stake in Badger Meter during the fourth quarter worth approximately $27,000. Brown Brothers Harriman & Co. raised its holdings in Badger Meter by 62.3% during the third quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 71 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Badger Meter during the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 89.01% of the company's stock.

Insiders Place Their Bets

In related news, VP Edward F. Callahan acquired 751 shares of the firm's stock in a transaction on Thursday, July 30th. The stock was bought at an average cost of $135.25 per share, with a total value of $101,572.75. Following the transaction, the vice president owned 1,937 shares of the company's stock, valued at $261,979.25. The trade was a 63.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company's stock.

Badger Meter Stock Performance

Shares of NYSE:BMI opened at $139.67 on Thursday. The company has a 50-day simple moving average of $136.35 and a 200-day simple moving average of $141.60. Badger Meter, Inc. has a one year low of $112.09 and a one year high of $204.00. The stock has a market capitalization 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 (NYSE:BMI - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.01. The business had revenue of $220.30 million during the quarter, compared to the consensus estimate of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The business's quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 earnings per share. As a group, research analysts forecast that Badger Meter, Inc. will post 4.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Badger Meter from $172.00 to $170.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Maxim Group lowered shares of Badger Meter from a "buy" rating to a "hold" rating in a research note on Thursday, April 23rd. Zacks Research raised shares of Badger Meter from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Royal Bank Of Canada decreased their price objective on shares of Badger Meter from $169.00 to $162.00 and set an "outperform" rating for the company in a research note on Thursday, July 23rd. Finally, Barclays reaffirmed an "underweight" rating and set a $112.00 price objective (up from $109.00) on shares of Badger Meter in a report on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Badger Meter currently has an average rating of "Hold" and an average price target of $164.00.

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.

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