Empowered Funds LLC Has $426,000 Position in Badger Meter, Inc. $BMI

Key Points

• Empowered Funds LLC cut its Badger Meter stake by 76.9% in the first quarter, selling 9,311 shares and retaining 2,793 shares valued at approximately $426,000. Institutional investors collectively own 89.01% of the company.
• Badger Meter reported quarterly EPS of $1.02, slightly exceeding estimates, while revenue of $220.3 million fell 6.6% year over year and narrowly missed forecasts.
• Analyst sentiment is mixed, with five Buy, five Hold and one Sell rating; the stock has a consensus “Hold” rating and an average price target of $164, versus an opening price of $135.69.

Empowered Funds LLC lowered its stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 76.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,793 shares of the scientific and technical instruments company's stock after selling 9,311 shares during the quarter. Empowered Funds LLC's holdings in Badger Meter were worth $426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Badger Meter by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 3,979,893 shares of the scientific and technical instruments company's stock worth $694,133,000 after buying an additional 19,585 shares during the last quarter. State Street Corp raised its holdings in Badger Meter by 1.4% in the 2nd quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company's stock worth $358,315,000 after acquiring an additional 20,122 shares during the period. Invesco Ltd. raised its holdings in Badger Meter by 20.9% in the 3rd quarter. Invesco Ltd. now owns 970,219 shares of the scientific and technical instruments company's stock worth $173,262,000 after acquiring an additional 168,053 shares during the period. Geode Capital Management LLC lifted its position in Badger Meter by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 876,854 shares of the scientific and technical instruments company's stock worth $152,951,000 after acquiring an additional 4,035 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in Badger Meter by 39.2% during 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 acquiring an additional 212,448 shares during the period. Institutional investors and hedge funds own 89.01% of the company's stock.

Insider Buying and Selling at Badger Meter

In other news, VP Edward F. Callahan acquired 751 shares of the stock in a transaction dated Thursday, July 30th. The shares were acquired at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the transaction, the vice president owned 1,937 shares in the company, valued at approximately $261,979.25. This trade represents a 63.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company's stock.

Badger Meter Stock Performance

NYSE BMI opened at $135.69 on Wednesday. Badger Meter, Inc. has a twelve month low of $112.09 and a twelve month high of $204.00. The stock has a market cap of $3.93 billion, a PE ratio of 31.70, a PEG ratio of 2.49 and a beta of 0.65. The firm has a 50-day simple moving average of $137.35 and a 200 day simple moving average of $140.66.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on BMI. Wall Street Zen downgraded Badger Meter from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. Maxim Group downgraded Badger Meter from a "buy" rating to a "hold" rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. lowered their target price on Badger Meter from $172.00 to $170.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Robert W. Baird set a $167.00 price target on Badger Meter and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Finally, Seaport Research Partners set a $160.00 price target on Badger Meter in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $164.00.

Badger Meter 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.

Want to see what other hedge funds are holding BMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Badger Meter, Inc. (NYSE:BMI - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source