Badger Meter, Inc. $BMI Stock Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems reduced its Badger Meter position by 23.9% in the third quarter, selling 6,600 shares and retaining 21,050 shares worth approximately $2.6 million.
• Institutional ownership remains high at 89.01%, while analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $166.33.
• Badger Meter reported quarterly EPS of $1.24, slightly above estimates, but revenue of $230.3 million fell short of expectations. The company also increased its quarterly dividend to $0.44, or $1.76 annually.

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 23.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,050 shares of the scientific and technical instruments company's stock after selling 6,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.07% of Badger Meter worth $2,601,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in Badger Meter in the 2nd quarter valued at approximately $27,000. Dunhill Financial LLC acquired a new stake in shares of Badger Meter during the 2nd quarter valued at $28,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Badger Meter during the 2nd quarter valued at $29,000. Frazier Financial Advisors LLC acquired a new stake in shares of Badger Meter during the 2nd quarter valued at $30,000. Finally, State of Wyoming purchased a new position in shares of Badger Meter during the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BMI. Zacks Research raised Badger Meter from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Argus raised Badger Meter from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a research note on Tuesday, October 27th. JPMorgan Chase & Co. cut 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. Weiss Ratings reiterated a "hold (c-)" rating on shares of Badger Meter in a report on Monday, October 26th. Finally, Barclays boosted their price target on Badger Meter from $111.00 to $112.00 and gave the company an "underweight" rating in a research note on Friday, October 23rd. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $166.33.

Badger Meter Stock Performance

Shares of NYSE:BMI opened at $157.81 on Tuesday. The company has a market cap of $4.51 billion, a P/E ratio of 33.27, a P/E/G ratio of 3.53 and a beta of 0.64. The stock's 50-day moving average is $133.20 and its 200-day moving average is $139.03. Badger Meter, Inc. has a 52-week low of $112.09 and a 52-week high of $192.28.

Badger Meter (NYSE:BMI - Get Free Report) last released its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.23 by $0.01. Badger Meter had a net margin of 14.36% and a return on equity of 18.49%. The firm had revenue of $230.30 million during the quarter, compared to analysts' expectations of $240.35 million. During the same period in the prior year, the company earned $1.19 EPS. The business's quarterly revenue was up .1% compared to the same quarter last year. As a group, equities analysts predict that Badger Meter, Inc. will post 4.53 EPS for the current year.

Badger Meter Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were paid a $0.44 dividend. The ex-dividend date was Friday, August 28th. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. This is a boost from Badger Meter's previous quarterly dividend of $0.40. Badger Meter's dividend payout ratio is presently 40.65%.

Badger Meter Profile

Badger Meter, Inc is a water technology company that develops and manufactures flow measurement, control and communications solutions. Its products are used to measure and manage water across municipal, commercial and industrial applications, helping customers improve operational efficiency, monitor usage and support water conservation.

The company's offerings include mechanical, ultrasonic and electromagnetic flow meters; valves and related flow-control equipment; and smart water technologies.

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