Essex Investment Management Co. LLC Decreases Holdings in Badger Meter, Inc. (NYSE:BMI)

Key Points

• Essex Investment Management Co. LLC has reduced its stake in Badger Meter, Inc. by 13.1%, selling 2,079 shares, and now holds a total of 13,798 shares valued at approximately $2.625 million.
• Institutional investors currently own 89.01% of Badger Meter's stock, with several hedge funds recently increasing their stakes or establishing new positions in the company.
• Badger Meter reported a quarterly EPS of $1.17, which fell short of analysts' estimates, but saw a 9.9% year-over-year revenue increase.

Essex Investment Management Co. LLC lowered its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 13.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 13,798 shares of the scientific and technical instruments company's stock after selling 2,079 shares during the period. Essex Investment Management Co. LLC's holdings in Badger Meter were worth $2,625,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Evergreen Capital Management LLC lifted its position in shares of Badger Meter by 1.8% during the 4th quarter. Evergreen Capital Management LLC now owns 2,780 shares of the scientific and technical instruments company's stock valued at $590,000 after acquiring an additional 48 shares during the period. Values First Advisors Inc. raised its holdings in Badger Meter by 0.6% during the first quarter. Values First Advisors Inc. now owns 8,739 shares of the scientific and technical instruments company's stock worth $1,663,000 after buying an additional 53 shares during the last quarter. Choreo LLC raised its holdings in Badger Meter by 4.6% during the first quarter. Choreo LLC now owns 1,361 shares of the scientific and technical instruments company's stock worth $259,000 after buying an additional 60 shares during the last quarter. Cim LLC raised its holdings in Badger Meter by 0.8% during the fourth quarter. Cim LLC now owns 9,747 shares of the scientific and technical instruments company's stock worth $2,068,000 after buying an additional 78 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Badger Meter by 7.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,221 shares of the scientific and technical instruments company's stock worth $259,000 after buying an additional 81 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Badger Meter Price Performance

Shares of NYSE BMI traded down $6.60 during trading on Friday, hitting $182.16. The stock had a trading volume of 317,281 shares, compared to its average volume of 275,083. Badger Meter, Inc. has a 12 month low of $162.17 and a 12 month high of $256.08. The company has a market capitalization of $5.37 billion, a PE ratio of 39.70, a PEG ratio of 3.36 and a beta of 0.83. The firm has a fifty day moving average of $237.20 and a two-hundred day moving average of $218.88.

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

Wall Street Analyst Weigh In

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

Badger Meter 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.