Maryland State Retirement & Pension System Reduces Stock Position in Badger Meter, Inc. $BMI

Maryland State Retirement & Pension System trimmed its holdings in Badger Meter, Inc. (NYSE:BMI) by 51.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,237 shares of the scientific and technical instruments company’s stock after selling 4,412 shares during the period. Maryland State Retirement & Pension System’s holdings in Badger Meter were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMI. Journey Strategic Wealth LLC boosted its holdings in shares of Badger Meter by 4.6% in the second quarter. Journey Strategic Wealth LLC now owns 1,296 shares of the scientific and technical instruments company’s stock worth $317,000 after acquiring an additional 57 shares during the period. Global X Japan Co. Ltd. lifted its holdings in Badger Meter by 27.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 266 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 57 shares in the last quarter. Monument Capital Management boosted its stake in Badger Meter by 0.4% in the 2nd quarter. Monument Capital Management now owns 15,588 shares of the scientific and technical instruments company’s stock worth $3,818,000 after purchasing an additional 60 shares during the period. Norden Group LLC grew its holdings in Badger Meter by 2.9% during the 2nd quarter. Norden Group LLC now owns 2,459 shares of the scientific and technical instruments company’s stock valued at $602,000 after buying an additional 70 shares in the last quarter. Finally, Tower View Wealth Management LLC increased its position in shares of Badger Meter by 0.5% during the second quarter. Tower View Wealth Management LLC now owns 14,746 shares of the scientific and technical instruments company’s stock valued at $3,612,000 after buying an additional 73 shares during the period. Institutional investors own 89.01% of the company’s stock.

Analysts Set New Price Targets

BMI has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on shares of Badger Meter in a research report on Friday, December 12th. They issued a “buy” rating and a $220.00 price objective for the company. Stifel Nicolaus upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and increased their target price for the stock from $208.00 to $215.00 in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. cut their price target on shares of Badger Meter from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Monday, December 8th. Barclays set a $157.00 price target on shares of Badger Meter and gave the stock an “underweight” rating in a report on Wednesday, January 7th. Finally, Robert W. Baird set a $205.00 price objective on Badger Meter and gave the company a “neutral” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Badger Meter currently has an average rating of “Moderate Buy” and a consensus price target of $218.25.

Badger Meter Stock Performance

NYSE BMI opened at $170.34 on Thursday. Badger Meter, Inc. has a 52-week low of $162.17 and a 52-week high of $256.08. The company has a fifty day moving average of $176.70 and a 200-day moving average of $185.45. The company has a market capitalization of $5.02 billion, a P/E ratio of 36.24, a P/E/G ratio of 2.52 and a beta of 0.91.

Badger Meter (NYSE:BMI) last released its earnings results on Wednesday, October 22nd. The scientific and technical instruments company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. Badger Meter had a return on equity of 21.12% and a net margin of 15.40%.The business had revenue of $235.65 million for the quarter, compared to analysts’ expectations of $231.88 million. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. As a group, analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Badger Meter’s dividend payout ratio is 34.04%.

Badger Meter 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.