Sei Investments Co. Acquires 24,619 Shares of Badger Meter, Inc. $BMI

Key Points

• Sei Investments increased its Badger Meter stake by 184.6% in the first quarter, acquiring 24,619 shares for a total holding of 37,955 shares valued at approximately $5.8 million. Institutional investors collectively own 89.01% of BMI.
• Badger Meter reported quarterly EPS of $1.02, slightly exceeding estimates, while revenue of $220.3 million fell 6.6% year over year and narrowly missed forecasts.
• Analysts maintain a mixed outlook, with a consensus rating of “Hold” and an average price target of $164 versus the stock’s recent price of $140.44. Price targets range from $112 to $170.

Sei Investments Co. raised its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 184.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,955 shares of the scientific and technical instruments company's stock after acquiring an additional 24,619 shares during the period. Sei Investments Co. owned about 0.13% of Badger Meter worth $5,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMI. N.E.W. Advisory Services LLC acquired a new position in shares of Badger Meter during the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd grew its position in Badger Meter by 76.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company's stock worth $26,000 after acquiring an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. bought a new stake in Badger Meter during the 4th quarter worth $27,000. Brown Brothers Harriman & Co. increased its holdings in Badger Meter by 62.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 71 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Badger Meter in the second quarter valued at about $49,000. 89.01% of the stock is owned by institutional investors.

Badger Meter Stock Performance

Badger Meter stock opened at $140.44 on Wednesday. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 2.50 and a beta of 0.65. Badger Meter, Inc. has a 52-week low of $112.09 and a 52-week high of $204.00. The stock's 50 day moving average price is $136.06 and its two-hundred day moving average price is $141.82.

Badger Meter (NYSE:BMI - Get Free Report) last released its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.01. The company had revenue of $220.30 million for the quarter, compared to the consensus estimate of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. Badger Meter's quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.17 EPS. On average, equities research analysts forecast that Badger Meter, Inc. will post 4.43 EPS for the current year.

Insider Activity

In other Badger Meter news, VP Edward F. Callahan purchased 751 shares of Badger Meter stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average price of $135.25 per share, with a total value of $101,572.75. Following the transaction, the vice president owned 1,937 shares in the company, valued at $261,979.25. This trade represents a 63.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BMI has been the subject of a number of recent research reports. Stifel Nicolaus set a $170.00 price objective on Badger Meter and gave the company a "buy" rating in a report on Monday, July 20th. Barclays reiterated an "underweight" rating and issued a $112.00 price target (up from $109.00) on shares of Badger Meter in a research report on Tuesday, July 28th. Maxim Group downgraded Badger Meter from a "buy" rating to a "hold" rating in a research report on Thursday, April 23rd. Robert W. Baird set a $167.00 price objective on Badger Meter and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Badger Meter from $172.00 to $170.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Badger Meter has an average rating of "Hold" and a consensus price target of $164.00.

Badger Meter Company Profile

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company's core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company's product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.

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