Candriam S.C.A. Raises Stake in Badger Meter, Inc. $BMI

Candriam S.C.A. boosted its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 17.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,067 shares of the scientific and technical instruments company’s stock after buying an additional 6,103 shares during the quarter. Candriam S.C.A. owned approximately 0.14% of Badger Meter worth $7,512,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new position in shares of Badger Meter during the 3rd quarter valued at approximately $38,000. Cullen Frost Bankers Inc. raised its holdings in shares of Badger Meter by 170.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 165 shares of the scientific and technical instruments company’s stock worth $41,000 after purchasing an additional 104 shares during the period. Global X Japan Co. Ltd. lifted its stake in Badger Meter by 27.3% in 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 purchasing an additional 57 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Badger Meter during the second quarter valued at $49,000. Finally, Employees Retirement System of Texas purchased a new stake in Badger Meter in the second quarter worth $54,000. Institutional investors own 89.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BMI has been the topic of a number of recent research reports. Robert W. Baird set a $165.00 price target on Badger Meter in a research report on Thursday, January 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $191.00 price objective (down from $229.00) on shares of Badger Meter in a research note on Thursday, January 29th. Jefferies Financial Group dropped their price objective on shares of Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Stifel Nicolaus set a $166.00 target price on shares of Badger Meter and gave the stock a “buy” rating in a research report on Thursday, January 29th. Finally, Argus downgraded 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $181.88.

Insiders Place Their Bets

In other news, EVP Robert Wrocklage bought 1,650 shares of the 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 purchase, the executive vice president directly owned 19,541 shares of the company’s stock, valued at $2,977,071.35. This trade represents a 9.22% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Badger Meter Stock Up 1.7%

Shares of NYSE BMI opened at $153.21 on Wednesday. The company has a market cap of $4.52 billion, a P/E ratio of 31.92, a P/E/G ratio of 2.42 and a beta of 0.90. Badger Meter, Inc. has a 52 week low of $139.14 and a 52 week high of $256.08. The business has a 50-day simple moving average of $170.84 and a two-hundred day simple moving average of $177.84.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.01). Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The company had revenue of $220.71 million for the quarter, compared to the consensus estimate of $232.30 million. During the same quarter in the prior year, the company earned $1.04 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current year.

About Badger Meter

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.