Marietta Investment Partners LLC Lowers Position in 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 lessened its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 32.8% during the 1st quarter, according to its most recent disclosure with the SEC. 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 reporting period.

Other hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Badger Meter by 22.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,731 shares of the scientific and technical instruments company's stock worth $519,000 after buying an additional 506 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Badger Meter in the first quarter worth $369,000. GAMMA Investing LLC lifted its holdings in shares of Badger Meter by 11.8% in the first quarter. GAMMA Investing LLC now owns 878 shares of the scientific and technical instruments company's stock worth $167,000 after buying an additional 93 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Badger Meter by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock valued at $35,000 after purchasing an additional 92 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in Badger Meter by 74.4% during the fourth quarter. Schroder Investment Management Group now owns 5,945 shares of the scientific and technical instruments company's stock valued at $1,274,000 after purchasing an additional 2,536 shares in the last quarter. Hedge funds and other institutional investors own 89.01% of the company's stock.

Analyst Ratings Changes

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

Badger Meter Trading Up 1.8%

Badger Meter stock opened at $193.18 on Friday. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $256.08. The firm has a 50-day moving average price of $240.42 and a 200-day moving average price of $219.32. The firm has a market capitalization of $5.69 billion, a PE ratio of 42.09, a price-to-earnings-growth ratio of 3.25 and a beta of 0.83.

Badger Meter (NYSE:BMI - Get Free Report) last issued its quarterly 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 firm had revenue of $238.10 million for the quarter, compared to the consensus estimate of $235.38 million. Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The business's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 earnings per share. As a group, sell-side analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal 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.

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