Envestnet Asset Management Inc. Sells 6,978 Shares of Badger Meter, Inc. (NYSE:BMI)

Envestnet Asset Management Inc. cut its holdings in Badger Meter, Inc. (NYSE:BMI) by 10.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,289 shares of the scientific and technical instruments company’s stock after selling 6,978 shares during the quarter. Envestnet Asset Management Inc. owned about 0.20% of Badger Meter worth $11,470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Badger Meter in the 4th quarter valued at approximately $94,547,000. Pictet Asset Management Holding SA boosted its stake in Badger Meter by 5,897.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 235,322 shares of the scientific and technical instruments company’s stock worth $49,917,000 after acquiring an additional 231,398 shares in the last quarter. GAMMA Investing LLC raised its holdings in Badger Meter by 21,179.0% during the first quarter. GAMMA Investing LLC now owns 167,040 shares of the scientific and technical instruments company’s stock worth $31,779,000 after buying an additional 166,255 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Badger Meter by 184.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 256,217 shares of the scientific and technical instruments company’s stock valued at $54,350,000 after purchasing an additional 166,191 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Badger Meter during the fourth quarter valued at about $20,586,000. 89.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BMI has been the topic of a number of research reports. Royal Bank Of Canada boosted their target price on shares of Badger Meter from $238.00 to $252.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Stifel Nicolaus increased their price objective on shares of Badger Meter from $200.00 to $230.00 and gave the company a “hold” rating in a report on Monday, June 16th. Argus set a $240.00 target price on Badger Meter in a research report on Thursday, April 24th. Raymond James Financial assumed coverage on Badger Meter in a research note on Tuesday, June 3rd. They issued a “market perform” rating on the stock. Finally, Robert W. Baird decreased their target price on Badger Meter from $218.00 to $216.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Badger Meter presently has an average rating of “Hold” and an average price target of $236.60.

Badger Meter Stock Performance

Shares of NYSE:BMI opened at $244.17 on Friday. The company has a market capitalization of $7.19 billion, a PE ratio of 53.78, a price-to-earnings-growth ratio of 3.49 and a beta of 0.83. Badger Meter, Inc. has a 52-week low of $162.17 and a 52-week high of $256.08. The company has a fifty day moving average of $244.18 and a 200-day moving average of $219.62.

Badger Meter (NYSE:BMI) last posted its earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.08 by $0.22. Badger Meter had a net margin of 15.74% and a return on equity of 22.35%. The firm had revenue of $222.21 million for the quarter, compared to analysts’ expectations of $220.39 million. During the same quarter last year, the firm earned $0.99 EPS. On average, equities analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a $0.34 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.36 annualized dividend and a dividend yield of 0.56%. Badger Meter’s dividend payout ratio is presently 29.96%.

Badger Meter Company Profile

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.