Confluence Investment Management LLC Invests $785,000 in Badger Meter, Inc. $BMI

Confluence Investment Management LLC acquired a new stake in shares of Badger Meter, Inc. (NYSE:BMI) during the second quarter, Holdings Channel reports. The institutional investor acquired 5,290 shares of the scientific and technical instruments company’s stock, valued at approximately $785,000.

Several other hedge funds have also recently made changes to their positions in BMI. Vanguard Group Inc. boosted its position in Badger Meter by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 3,979,893 shares of the scientific and technical instruments company’s stock valued at $694,133,000 after buying an additional 19,585 shares during the last quarter. State Street Corp raised its position in Badger Meter by 1.4% during the 2nd quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company’s stock worth $358,315,000 after buying an additional 20,122 shares during the last quarter. Invesco Ltd. lifted its stake in Badger Meter by 20.9% during the 3rd quarter. Invesco Ltd. now owns 970,219 shares of the scientific and technical instruments company’s stock valued at $173,262,000 after acquiring an additional 168,053 shares during the period. Geode Capital Management LLC lifted its stake in Badger Meter by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 876,854 shares of the scientific and technical instruments company’s stock valued at $152,951,000 after acquiring an additional 4,035 shares during the period. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Badger Meter by 39.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 754,402 shares of the scientific and technical instruments company’s stock valued at $131,592,000 after acquiring an additional 212,448 shares during the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

Badger Meter Stock Performance

Shares of NYSE BMI opened at $140.44 on Wednesday. The company has a market capitalization of $4.07 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 2.50 and a beta of 0.65. The company’s fifty day moving average price is $136.06 and its 200 day moving average price is $141.82. Badger Meter, Inc. has a 1 year low of $112.09 and a 1 year high of $204.00.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 EPS for the quarter, beating the consensus estimate of $1.01 by $0.01. The company had revenue of $220.30 million for the quarter, compared to analyst estimates of $220.59 million. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.Badger Meter’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the company earned $1.17 earnings per share. On average, equities analysts expect that Badger Meter, Inc. will post 4.43 EPS for the current year.

Analyst Upgrades and Downgrades

BMI has been the topic of a number of research reports. Zacks Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Maxim Group lowered shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, April 23rd. Royal Bank Of Canada cut their price target on Badger Meter from $169.00 to $162.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Barclays reiterated an “underweight” rating and set a $112.00 price objective (up from $109.00) on shares of Badger Meter in a research note on Tuesday, July 28th. Finally, Stifel Nicolaus set a $170.00 price objective on Badger Meter and gave the company a “buy” rating in a report on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $164.00.

Insider Transactions at Badger Meter

In related news, VP Edward F. Callahan purchased 751 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was bought at an average price of $135.25 per share, with a total value of $101,572.75. Following the acquisition, the vice president owned 1,937 shares in the company, valued at $261,979.25. The trade was a 63.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.