Illinois Municipal Retirement Fund Purchases 3,859 Shares of Badger Meter, Inc. $BMI

Illinois Municipal Retirement Fund increased its position in Badger Meter, Inc. (NYSE:BMI) by 24.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 19,869 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,859 shares during the period. Illinois Municipal Retirement Fund’s holdings in Badger Meter were worth $3,548,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Journey Strategic Wealth LLC raised its stake in shares of Badger Meter by 4.6% during the 2nd quarter. Journey Strategic Wealth LLC now owns 1,296 shares of the scientific and technical instruments company’s stock valued at $317,000 after purchasing an additional 57 shares during the period. Global X Japan Co. Ltd. increased its position in shares of Badger Meter by 27.3% during the third quarter. Global X Japan Co. Ltd. now owns 266 shares of the scientific and technical instruments company’s stock valued at $48,000 after buying an additional 57 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Badger Meter by 0.9% in the second quarter. Handelsbanken Fonder AB now owns 9,834 shares of the scientific and technical instruments company’s stock worth $2,409,000 after buying an additional 85 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Badger Meter by 6.6% in the third quarter. Nisa Investment Advisors LLC now owns 1,372 shares of the scientific and technical instruments company’s stock valued at $245,000 after acquiring an additional 85 shares during the period. Finally, Profund Advisors LLC grew its stake in Badger Meter by 6.4% during the second quarter. Profund Advisors LLC now owns 1,472 shares of the scientific and technical instruments company’s stock valued at $361,000 after acquiring an additional 89 shares in the last quarter. Institutional investors own 89.01% of the company’s stock.

Insider Buying and Selling

In other Badger Meter news, CEO Kenneth Bockhorst purchased 3,300 shares of Badger Meter stock in a transaction on Tuesday, February 10th. The shares were acquired at an average cost of $152.42 per share, for a total transaction of $502,986.00. Following the completion of the transaction, the chief executive officer directly owned 40,013 shares of the company’s stock, valued at approximately $6,098,781.46. The trade was a 8.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert Wrocklage purchased 1,650 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were acquired at an average cost of $152.35 per share, for a total transaction of $251,377.50. Following the completion of the purchase, the executive vice president directly owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. This represents a 9.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $191.00 price target (down from $229.00) on shares of Badger Meter in a report on Thursday, January 29th. Zacks Research lowered Badger Meter from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Stifel Nicolaus set a $166.00 target price on Badger Meter and gave the stock a “buy” rating in a research report on Thursday, January 29th. Robert W. Baird set a $165.00 price target on Badger Meter in a report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Badger Meter in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Badger Meter currently has a consensus rating of “Hold” and an average price target of $181.88.

Badger Meter Stock Down 1.9%

BMI opened at $155.33 on Friday. The business’s fifty day simple moving average is $169.54 and its 200 day simple moving average is $177.22. Badger Meter, Inc. has a 52 week low of $139.14 and a 52 week high of $256.08. The stock has a market cap of $4.58 billion, a PE ratio of 32.36, a P/E/G ratio of 2.49 and a beta of 0.90.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). The firm had revenue of $220.71 million during the quarter, compared to analysts’ expectations of $232.30 million. Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.Badger Meter’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 earnings per share. As a group, equities analysts anticipate 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.