Badger Meter, Inc. (NYSE:BMI) Position Lessened by Norden Group LLC

Norden Group LLC decreased its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 46.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,389 shares of the scientific and technical instruments company's stock after selling 2,033 shares during the period. Norden Group LLC's holdings in Badger Meter were worth $455,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Evergreen Capital Management LLC raised its stake in Badger Meter by 1.8% during the fourth quarter. Evergreen Capital Management LLC now owns 2,780 shares of the scientific and technical instruments company's stock valued at $590,000 after buying an additional 48 shares in the last quarter. Values First Advisors Inc. raised its stake 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 valued at $1,663,000 after buying an additional 53 shares in the last quarter. Choreo LLC raised its stake 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 valued at $259,000 after buying an additional 60 shares in the last quarter. Cim LLC raised its stake 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 valued at $2,068,000 after buying an additional 78 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake 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 valued at $259,000 after buying an additional 81 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 analysts have recently weighed in on the company. Royal Bank Of Canada dropped their price target on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Robert W. Baird increased their price target on Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Argus set a $240.00 price target on Badger Meter in a research report on Thursday, April 24th. Stifel Nicolaus set a $224.00 price target on Badger Meter in a research report on Wednesday, July 23rd. Finally, Raymond James Financial assumed coverage on Badger Meter in a research report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $238.40.

Badger Meter Price Performance

Shares of BMI traded down $7.61 during trading hours on Friday, hitting $181.15. 554,710 shares of the company were exchanged, compared to its average volume of 454,695. The company has a market capitalization of $5.34 billion, a PE ratio of 39.47, a PEG ratio of 3.32 and a beta of 0.83. The firm has a fifty day simple moving average of $234.85 and a 200-day simple moving average of $218.56. 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 released its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share 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 revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 earnings per share. Sell-side analysts expect that Badger Meter, Inc. will post 4.65 EPS for the current year.

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.