Dudley & Shanley Inc. Decreases Stock Holdings in Badger Meter, Inc. $BMI

Key Points

• Dudley & Shanley Inc. cut its Badger Meter stake by 48.4% in the second quarter, selling 59,150 shares and retaining 63,000 shares worth approximately $9.35 million.
• Institutional investors own 89.01% of Badger Meter, with several funds recently initiating or increasing positions despite Dudley & Shanley’s reduction.
• Analysts have a consensus “Hold” rating and a $164 price target. Badger Meter slightly exceeded quarterly EPS estimates, but revenue fell 6.6% year over year.

Dudley & Shanley Inc. reduced its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 48.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,000 shares of the scientific and technical instruments company's stock after selling 59,150 shares during the period. Badger Meter accounts for about 1.4% of Dudley & Shanley Inc.'s portfolio, making the stock its 25th largest position. Dudley & Shanley Inc. owned approximately 0.22% of Badger Meter worth $9,348,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kornitzer Capital Management Inc. KS acquired a new position in shares of Badger Meter during the first quarter worth $1,447,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Badger Meter during the 4th quarter worth $2,126,000. Capital Innovations LLC purchased a new position in Badger Meter during the 4th quarter worth $6,867,000. Bessemer Group Inc. increased its position in Badger Meter by 14.1% during the 4th quarter. Bessemer Group Inc. now owns 166,407 shares of the scientific and technical instruments company's stock valued at $29,023,000 after buying an additional 20,624 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in Badger Meter by 113.9% during the 4th quarter. Handelsbanken Fonder AB now owns 95,662 shares of the scientific and technical instruments company's stock valued at $16,684,000 after buying an additional 50,949 shares in the last quarter. Hedge funds and other institutional investors own 89.01% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BMI shares. Barclays reissued an "underweight" rating and issued a $112.00 price target (up from $109.00) on shares of Badger Meter in a report on Tuesday, July 28th. Seaport Research Partners set a $160.00 price target on shares of Badger Meter in a report on Thursday, July 23rd. Wall Street Zen downgraded shares of Badger Meter from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Zacks Research raised shares of Badger Meter from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Finally, Stifel Nicolaus set a $170.00 target price on Badger Meter and gave the stock a "buy" rating in a research note on Monday, July 20th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $164.00.

Insider Transactions at Badger Meter

In other Badger Meter news, VP Edward F. Callahan purchased 751 shares of the stock in a transaction on Thursday, July 30th. The shares were bought at an average cost of $135.25 per share, with a total value of $101,572.75. Following the completion of the acquisition, the vice president owned 1,937 shares in the company, valued at $261,979.25. This trade represents a 63.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

Badger Meter Trading Down 0.0%

BMI opened at $138.81 on Monday. Badger Meter, Inc. has a 12-month low of $112.09 and a 12-month high of $204.00. The firm has a market capitalization of $4.02 billion, a PE ratio of 32.43, a P/E/G ratio of 2.54 and a beta of 0.65. The firm has a 50 day moving average of $136.88 and a two-hundred day moving average of $141.12.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.01 by $0.01. The business had revenue of $220.30 million for 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 revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.17 EPS. As a group, analysts predict that Badger Meter, Inc. will post 4.43 EPS for the current fiscal year.

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.

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