Badger Meter, Inc. (NYSE:BMI) Shares Bought by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in Badger Meter, Inc. by 45.0%, owning 6,499 shares valued at approximately $1.24 million as of their latest SEC filing.
• Badger Meter reported earnings per share (EPS) of $1.17 for the last quarter, slightly below analyst estimates of $1.19, despite a 9.9% year-over-year revenue increase to $238.1 million.
• The stock has seen varying analyst ratings with a consensus of "Hold", and an average price target of $238.40, highlighting mixed sentiment among analysts regarding its future performance.

Royce & Associates LP increased its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 45.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,499 shares of the scientific and technical instruments company's stock after purchasing an additional 2,018 shares during the quarter. Royce & Associates LP's holdings in Badger Meter were worth $1,236,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Badger Meter during the fourth quarter worth approximately $25,000. Bessemer Group Inc. grew its holdings in Badger Meter by 162.5% in the 4th quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock valued at $31,000 after buying an additional 91 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Badger Meter in the 4th quarter valued at $39,000. Golden State Wealth Management LLC grew its holdings in Badger Meter by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock valued at $35,000 after buying an additional 92 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in Badger Meter by 83.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 88 shares in the last quarter. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Stock Performance

Shares of NYSE BMI traded down $4.14 during mid-day trading on Friday, reaching $184.62. 202,564 shares of the company's stock were exchanged, compared to its average volume of 274,318. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 40.22, a PEG ratio of 3.36 and a beta of 0.83. Badger Meter, Inc. has a 52-week low of $162.17 and a 52-week high of $256.08. The company's 50-day moving average is $237.20 and its 200-day moving average is $218.88.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.02). Badger Meter had a return on equity of 21.57% and a net margin of 15.53%. The business had revenue of $238.10 million for the quarter, compared to analysts' expectations of $235.38 million. During the same quarter in the prior year, the company posted $1.12 earnings per share. The business's revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, equities analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BMI shares. Raymond James Financial started coverage on Badger Meter in a report on Tuesday, June 3rd. They issued a "market perform" rating for the company. Robert W. Baird upped their target price on Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Argus set a $240.00 target price on Badger Meter in a report on Thursday, April 24th. Royal Bank Of Canada dropped their target price on Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Finally, Stifel Nicolaus set a $224.00 target price on Badger Meter in a report on Wednesday, July 23rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $238.40.

Badger Meter Company Profile

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.