Norden Group LLC Sells 2,033 Shares of Badger Meter, Inc. (NYSE:BMI)

Norden Group LLC lessened its position in Badger Meter, Inc. (NYSE:BMI) by 46.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,389 shares of the scientific and technical instruments company’s stock after selling 2,033 shares during the period. Norden Group LLC’s holdings in Badger Meter were worth $455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in Badger Meter in the fourth quarter valued at approximately $25,000. Bessemer Group Inc. grew its holdings in Badger Meter by 162.5% in the fourth quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company’s stock worth $31,000 after purchasing an additional 91 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Badger Meter by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 92 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Badger Meter by 83.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company’s stock valued at $37,000 after buying an additional 88 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in Badger Meter in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BMI. Argus set a $240.00 price target on Badger Meter in a report on Thursday, April 24th. Royal Bank Of Canada reduced their price target on shares of Badger Meter from $284.00 to $264.00 and set an “outperform” rating for the company in a research report on Wednesday, July 23rd. Robert W. Baird lifted their price target on shares of Badger Meter from $216.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Raymond James Financial started coverage on shares of Badger Meter in a research report on Tuesday, June 3rd. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus set a $224.00 price target on shares of Badger Meter in a research report on Wednesday, July 23rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $238.40.

Badger Meter Price Performance

BMI opened at $188.30 on Wednesday. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 41.02, a P/E/G ratio of 3.39 and a beta of 0.83. The firm’s fifty day moving average price is $238.24 and its two-hundred day moving average price is $219.07. Badger Meter, Inc. has a 1 year low of $162.17 and a 1 year high of $256.08.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.02). The firm had revenue of $238.10 million for the quarter, compared to analysts’ expectations of $235.38 million. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%. Badger Meter’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 earnings per share. As a group, equities analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter 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.