Vestcor Inc Has $1.04 Million Stock Position in Badger Meter, Inc. (NYSE:BMI)

Vestcor Inc boosted its position in shares of Badger Meter, Inc. (NYSE:BMI) by 1.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,483 shares of the scientific and technical instruments company’s stock after purchasing an additional 100 shares during the quarter. Vestcor Inc’s holdings in Badger Meter were worth $1,043,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC acquired a new stake in shares of Badger Meter in the fourth quarter valued at approximately $227,000. JPMorgan Chase & Co. lifted its position 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 acquiring an additional 17,060 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Badger Meter by 74.4% in the fourth quarter. Schroder Investment Management Group now owns 5,945 shares of the scientific and technical instruments company’s stock valued at $1,274,000 after acquiring an additional 2,536 shares during the period. California Public Employees Retirement System increased its stake in Badger Meter by 1.3% during the 4th quarter. California Public Employees Retirement System now owns 44,932 shares of the scientific and technical instruments company’s stock worth $9,531,000 after acquiring an additional 593 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Badger Meter by 0.4% in the 4th quarter. Wellington Management Group LLP now owns 20,140 shares of the scientific and technical instruments company’s stock valued at $4,272,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Stock Performance

Shares of BMI stock opened at $181.15 on Friday. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08. The firm’s 50-day simple moving average is $234.85 and its two-hundred day simple moving average is $218.56. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 39.47, a P/E/G ratio of 3.32 and a beta of 0.84.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on BMI shares. Raymond James Financial assumed coverage on shares of Badger Meter in a research report on Tuesday, June 3rd. They issued a “market perform” rating on the stock. Argus set a $240.00 price target on Badger Meter in a research note on Thursday, April 24th. Robert W. Baird raised their target price on Badger Meter from $216.00 to $219.00 and gave the company 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, Royal Bank Of Canada lowered their price objective on Badger Meter from $284.00 to $264.00 and set an “outperform” rating for the company in a research note on Wednesday, July 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Badger Meter presently has a consensus rating of “Hold” and a consensus price target of $238.40.

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.