Principal Financial Group Inc. Has $29.47 Million Stock Holdings in Badger Meter, Inc. $BMI

Principal Financial Group Inc. boosted its position in Badger Meter, Inc. (NYSE:BMI) by 3.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 165,002 shares of the scientific and technical instruments company’s stock after purchasing an additional 6,240 shares during the period. Principal Financial Group Inc.’s holdings in Badger Meter were worth $29,466,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Badger Meter in the second quarter valued at approximately $83,548,000. Westfield Capital Management Co. LP lifted its holdings in Badger Meter by 78.1% during the 2nd quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock valued at $150,108,000 after purchasing an additional 268,799 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Badger Meter by 108.2% in the second quarter. Bank of America Corp DE now owns 342,099 shares of the scientific and technical instruments company’s stock valued at $83,797,000 after purchasing an additional 177,781 shares during the last quarter. Invesco Ltd. raised its position in shares of Badger Meter by 27.1% in the second quarter. Invesco Ltd. now owns 802,166 shares of the scientific and technical instruments company’s stock valued at $196,491,000 after purchasing an additional 171,275 shares during the period. Finally, Aberdeen Group plc bought a new stake in shares of Badger Meter during the 2nd quarter worth about $27,884,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

Analyst Upgrades and Downgrades

BMI has been the topic of several research analyst reports. Zacks Research cut shares of Badger Meter from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Badger Meter in a report on Wednesday, January 21st. JPMorgan Chase & Co. reduced their target price on shares of Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, January 29th. Robert W. Baird set a $165.00 price target on shares of Badger Meter in a research report on Thursday, January 29th. Finally, Argus cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Monday, February 2nd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $181.88.

Badger Meter Price Performance

NYSE BMI opened at $150.96 on Friday. The business has a fifty day moving average price of $171.72 and a two-hundred day moving average price of $178.68. The stock has a market capitalization of $4.45 billion, a PE ratio of 31.45, a PEG ratio of 2.34 and a beta of 0.90. Badger Meter, Inc. has a fifty-two week low of $139.14 and a fifty-two week high of $256.08.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). The business had revenue of $220.71 million for the quarter, compared to analyst estimates of $232.30 million. Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.Badger Meter’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $1.04 EPS. As a group, sell-side analysts expect that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

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.