Marietta Investment Partners LLC Sells 6,565 Shares of Badger Meter, Inc. (NYSE:BMI)

Key Points

• Marietta Investment Partners LLC has reduced its stake in Badger Meter, Inc. (NYSE:BMI) by 32.8%, now holding 13,435 shares valued at approximately $2.56 million.
• Several other hedge funds have also adjusted their positions, with Cambridge Investment Research Advisors Inc. increasing its holdings by 22.7% during the same period.
• Analysts have mixed views on Badger Meter's stock, with a consensus rating of "Hold" and an average price target of $238.40.

Marietta Investment Partners LLC decreased its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 32.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,435 shares of the scientific and technical instruments company's stock after selling 6,565 shares during the quarter. Marietta Investment Partners LLC's holdings in Badger Meter were worth $2,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in Badger Meter in the fourth quarter valued at approximately $25,000. Bessemer Group Inc. increased its holdings in shares of Badger Meter by 162.5% during the fourth quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock valued at $31,000 after purchasing an additional 91 shares during the period. Golden State Wealth Management LLC increased its stake in Badger Meter by 100.0% during 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 during the period. SBI Securities Co. Ltd. increased its stake in shares of Badger Meter by 83.0% during the first quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock valued at $37,000 after acquiring an additional 88 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in shares of Badger Meter in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

Analyst Ratings Changes

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

Badger Meter Trading Up 1.3%

Shares of Badger Meter stock traded up $2.51 on Wednesday, reaching $190.51. 269,693 shares of the company were exchanged, compared to its average volume of 270,456. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 41.50, a PEG ratio of 3.39 and a beta of 0.83. The company has a 50-day moving average of $238.24 and a 200 day moving average of $219.07. Badger Meter, Inc. has a one year low of $162.17 and a one year high of $256.08.

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

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.