New York State Common Retirement Fund Sells 47,005 Shares of Badger Meter, Inc. $BMI

New York State Common Retirement Fund reduced its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 61.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,576 shares of the scientific and technical instruments company’s stock after selling 47,005 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of Badger Meter worth $5,282,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp raised its position in shares of Badger Meter by 1.4% in the second quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company’s stock valued at $358,315,000 after purchasing an additional 20,122 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Badger Meter by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 876,519 shares of the scientific and technical instruments company’s stock worth $215,464,000 after buying an additional 19,340 shares during the period. Invesco Ltd. grew its stake in Badger Meter by 27.1% in the 2nd quarter. Invesco Ltd. now owns 802,166 shares of the scientific and technical instruments company’s stock valued at $196,491,000 after buying an additional 171,275 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in Badger Meter by 78.1% in the 2nd quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock valued at $150,108,000 after acquiring an additional 268,799 shares during the period. Finally, Bank of America Corp DE lifted its position in Badger Meter by 108.2% during the second quarter. Bank of America Corp DE now owns 342,099 shares of the scientific and technical instruments company’s stock worth $83,797,000 after acquiring an additional 177,781 shares during the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

Badger Meter Stock Performance

NYSE:BMI opened at $145.79 on Friday. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 2.35 and a beta of 0.90. Badger Meter, Inc. has a fifty-two week low of $139.14 and a fifty-two week high of $256.08. The stock has a fifty day moving average price of $172.27 and a 200-day moving average price of $179.33.

Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.The company had revenue of $220.71 million during the quarter, compared to the consensus estimate of $232.30 million. During the same quarter in the previous year, the business posted $1.04 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on BMI. Argus downgraded Badger Meter from a “buy” rating to a “hold” rating in a research report on Monday. Jefferies Financial Group decreased their price objective on Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Stifel Nicolaus set a $166.00 price objective on Badger Meter and gave the stock a “buy” rating in a research report on Thursday, January 29th. Zacks Research cut shares of Badger Meter from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, January 29th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $181.88.

About Badger Meter

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.