Sei Investments Co. Acquires 24,619 Shares of Badger Meter, Inc. $BMI

Sei Investments Co. raised its holdings in Badger Meter, Inc. (NYSE:BMI) by 184.6% in the first quarter, Holdings Channel reports. The firm owned 37,955 shares of the scientific and technical instruments company’s stock after purchasing an additional 24,619 shares during the period. Sei Investments Co.’s holdings in Badger Meter were worth $5,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in BMI. Cetera Investment Advisers boosted its stake in Badger Meter by 8.0% in the first quarter. Cetera Investment Advisers now owns 6,383 shares of the scientific and technical instruments company’s stock valued at $972,000 after acquiring an additional 474 shares during the last quarter. CI Investments Inc. lifted its stake in Badger Meter by 36.1% in the first quarter. CI Investments Inc. now owns 40,920 shares of the scientific and technical instruments company’s stock valued at $6,234,000 after purchasing an additional 10,843 shares during the last quarter. First Trust Advisors LP grew its holdings in Badger Meter by 54.8% during the first quarter. First Trust Advisors LP now owns 560,356 shares of the scientific and technical instruments company’s stock valued at $85,370,000 after purchasing an additional 198,430 shares during the period. Amova Asset Management Americas Inc. increased its position in Badger Meter by 36.1% in the first quarter. Amova Asset Management Americas Inc. now owns 7,174 shares of the scientific and technical instruments company’s stock worth $1,093,000 after buying an additional 1,902 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Badger Meter by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 540,272 shares of the scientific and technical instruments company’s stock worth $82,305,000 after buying an additional 29,623 shares during the last quarter. Institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Up 2.5%

Shares of NYSE BMI opened at $140.44 on Wednesday. The company has a market cap of $4.07 billion, a P/E ratio of 32.81, a P/E/G ratio of 2.50 and a beta of 0.65. Badger Meter, Inc. has a 52 week low of $112.09 and a 52 week high of $204.00. The business has a 50-day simple moving average of $136.06 and a two-hundred day simple moving average of $141.82.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The firm had revenue of $220.30 million for the quarter, compared to analysts’ expectations of $220.59 million. During the same period in the prior year, the business posted $1.17 earnings per share. The company’s revenue was down 6.6% on a year-over-year basis. Equities research analysts anticipate that Badger Meter, Inc. will post 4.43 EPS for the current year.

Insiders Place Their Bets

In other news, VP Edward F. Callahan bought 751 shares of the stock in a transaction on Thursday, July 30th. The shares were acquired at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the purchase, the vice president directly owned 1,937 shares of the company’s stock, valued at $261,979.25. This trade represents a 63.32% 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 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BMI shares. Royal Bank Of Canada decreased their price objective on Badger Meter from $169.00 to $162.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Zacks Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Barclays reiterated an “underweight” rating and issued a $112.00 target price (up from $109.00) on shares of Badger Meter in a research note on Tuesday, July 28th. Wall Street Zen cut shares of Badger Meter from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Stifel Nicolaus set a $170.00 price objective on shares of Badger Meter and gave the stock a “buy” rating in a report on Monday, July 20th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Badger Meter presently has an average rating of “Hold” and an average price target of $164.00.

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.