Empowered Funds LLC Sells 9,311 Shares of Badger Meter, Inc. $BMI

Empowered Funds LLC cut its stake in Badger Meter, Inc. (NYSE:BMI) by 76.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,793 shares of the scientific and technical instruments company’s stock after selling 9,311 shares during the period. Empowered Funds LLC’s holdings in Badger Meter were worth $426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC acquired a new position in Badger Meter during the fourth quarter worth $227,000. NewEdge Advisors LLC boosted its stake in shares of Badger Meter by 328.0% in the 1st quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company’s stock valued at $717,000 after purchasing an additional 2,886 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Badger Meter by 10.6% in the 2nd quarter. Cetera Investment Advisers now owns 2,334 shares of the scientific and technical instruments company’s stock worth $572,000 after purchasing an additional 223 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Badger Meter during the 2nd quarter worth about $200,000. Finally, California Public Employees Retirement System increased its position in shares of Badger Meter by 11.2% during the 2nd quarter. California Public Employees Retirement System now owns 50,225 shares of the scientific and technical instruments company’s stock worth $12,303,000 after purchasing an additional 5,041 shares in the last quarter. Institutional investors own 89.01% of the company’s stock.

Badger Meter Trading Down 0.6%

Shares of NYSE BMI opened at $135.69 on Wednesday. Badger Meter, Inc. has a 1-year low of $112.09 and a 1-year high of $204.00. The company has a 50-day moving average of $137.35 and a two-hundred day moving average of $140.66. The company has a market cap of $3.93 billion, a PE ratio of 31.70, a P/E/G ratio of 2.49 and a beta of 0.65.

Badger Meter (NYSE:BMI) last released its quarterly earnings results 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 business had revenue of $220.30 million for the quarter, compared to analysts’ expectations of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. Badger Meter’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. As a group, equities research analysts forecast that Badger Meter, Inc. will post 4.43 earnings per share for the current year.

Insider Transactions at Badger Meter

In other news, VP Edward F. Callahan acquired 751 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were purchased at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the transaction, the vice president owned 1,937 shares of the company’s stock, valued at approximately $261,979.25. This represents a 63.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays restated an “underweight” rating and issued a $112.00 price target (up from $109.00) on shares of Badger Meter in a research report on Tuesday, July 28th. Maxim Group cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, April 23rd. Robert W. Baird set a $167.00 target price on Badger Meter and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Seaport Research Partners set a $160.00 price target on Badger Meter in a research report on Thursday, July 23rd. Finally, Wall Street Zen lowered Badger Meter from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.