Choreo LLC Buys 60 Shares of Badger Meter, Inc. (NYSE:BMI)

Choreo LLC increased its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,361 shares of the scientific and technical instruments company’s stock after acquiring an additional 60 shares during the quarter. Choreo LLC’s holdings in Badger Meter were worth $259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC increased its position in Badger Meter by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 796,528 shares of the scientific and technical instruments company’s stock worth $169,448,000 after acquiring an additional 17,873 shares during the period. Invesco Ltd. boosted its stake in Badger Meter by 1.6% during the fourth quarter. Invesco Ltd. now owns 500,946 shares of the scientific and technical instruments company’s stock worth $106,261,000 after buying an additional 7,719 shares in the last quarter. Norges Bank acquired a new stake in Badger Meter during the fourth quarter worth $94,547,000. JPMorgan Chase & Co. boosted its stake in Badger Meter by 4.1% during the fourth quarter. JPMorgan Chase & Co. now owns 433,169 shares of the scientific and technical instruments company’s stock worth $91,884,000 after buying an additional 17,060 shares in the last quarter. Finally, Congress Asset Management Co. boosted its stake in Badger Meter by 9.8% during the first quarter. Congress Asset Management Co. now owns 398,588 shares of the scientific and technical instruments company’s stock worth $75,831,000 after buying an additional 35,424 shares in the last quarter. Institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Performance

Shares of NYSE:BMI opened at $191.46 on Thursday. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08. The company’s fifty day moving average is $237.20 and its 200-day moving average is $218.88. The company has a market capitalization of $5.64 billion, a PE ratio of 41.71, a P/E/G ratio of 3.31 and a beta of 0.83.

Badger Meter (NYSE:BMI) last issued its earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.02). Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The firm had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.38 million. During the same quarter in the prior year, the firm posted $1.12 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current year.

Analysts Set New Price Targets

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

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.