Norden Group LLC reduced its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 46.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,389 shares of the scientific and technical instruments company's stock after selling 2,033 shares during the quarter. Norden Group LLC's holdings in Badger Meter were worth $455,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in BMI. Evergreen Capital Management LLC increased its stake in Badger Meter by 1.8% in the 4th quarter. Evergreen Capital Management LLC now owns 2,780 shares of the scientific and technical instruments company's stock worth $590,000 after acquiring an additional 48 shares during the last quarter. Values First Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 53 shares in the last quarter. Choreo LLC grew its holdings in shares of Badger Meter by 4.6% in the first quarter. Choreo LLC now owns 1,361 shares of the scientific and technical instruments company's stock worth $259,000 after acquiring an additional 60 shares during the period. Cim LLC grew its holdings in shares of Badger Meter by 0.8% in the fourth quarter. Cim LLC now owns 9,747 shares of the scientific and technical instruments company's stock worth $2,068,000 after acquiring an additional 78 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Badger Meter by 7.1% in 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 acquiring an additional 81 shares during the period. 89.01% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. 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 report on Wednesday, July 23rd. Robert W. Baird boosted their target price on Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 price objective on Badger Meter in a research note on Wednesday, July 23rd. Raymond James Financial started coverage on Badger Meter in a research note on Tuesday, June 3rd. They set a "market perform" rating on the stock. Finally, Argus set a $240.00 price objective on 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 assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $238.40.
Read Our Latest Research Report on BMI
Badger Meter Trading Down 4.0%
Shares of BMI traded down $7.61 during midday trading on Friday, hitting $181.15. 554,410 shares of the company's stock traded hands, compared to its average volume of 276,828. Badger Meter, Inc. has a 1 year low of $162.17 and a 1 year high of $256.08. The firm's fifty day moving average is $237.20 and its 200-day moving average is $218.88. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 39.47, a price-to-earnings-growth ratio of 3.36 and a beta of 0.83.
Badger Meter (NYSE:BMI - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.19 by ($0.02). The firm had revenue of $238.10 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS. On average, equities research analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current year.
About Badger Meter
(
Free Report)
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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