Badger Meter, Inc. $BMI Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its position in shares of Badger Meter, Inc. (NYSE:BMI) by 61.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,674 shares of the scientific and technical instruments company’s stock after selling 15,110 shares during the period. Truist Financial Corp’s holdings in Badger Meter were worth $1,728,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of BMI. Maryland State Retirement & Pension System raised its holdings in Badger Meter by 0.6% in the 2nd quarter. Maryland State Retirement & Pension System now owns 8,649 shares of the scientific and technical instruments company’s stock worth $2,119,000 after purchasing an additional 54 shares during the period. Journey Strategic Wealth LLC increased its position 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 valued at $317,000 after buying an additional 57 shares in the last quarter. Global X Japan Co. Ltd. raised its stake in shares of 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 buying an additional 57 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Badger Meter by 0.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 9,834 shares of the scientific and technical instruments company’s stock valued at $2,409,000 after buying an additional 85 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Badger Meter by 6.6% in the 3rd 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. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on BMI. Barclays set a $136.00 price objective on shares of Badger Meter and gave the company an “underweight” rating in a 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Badger Meter in a report on Wednesday, January 21st. JPMorgan Chase & Co. reduced their target price on Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, January 29th. Finally, Argus downgraded Badger Meter from a “buy” rating to a “hold” rating in a research report on Monday, February 2nd. Four investment 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’s stock. According to MarketBeat.com, Badger Meter currently has a consensus rating of “Hold” and a consensus target price of $181.88.

Badger Meter Stock Performance

Shares of Badger Meter stock opened at $150.96 on Friday. The business’s 50 day moving average price is $171.72 and its 200 day moving average price is $178.49. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 2.43 and a beta of 0.90. Badger Meter, Inc. has a one year low of $139.14 and a one year high of $256.08.

Badger Meter (NYSE:BMI) last issued its earnings results 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 company had revenue of $220.71 million during 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%.The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $1.04 earnings per share. On average, analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

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.