Envestnet Asset Management Inc. Buys 29,186 Shares of Badger Meter, Inc. $BMI

Envestnet Asset Management Inc. boosted its holdings in Badger Meter, Inc. (NYSE:BMI) by 49.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,158 shares of the scientific and technical instruments company’s stock after buying an additional 29,186 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.30% of Badger Meter worth $15,743,000 at the end of the most recent reporting period.

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

Badger Meter Trading Down 1.9%

BMI stock opened at $155.33 on Monday. The stock has a market cap of $4.58 billion, a P/E ratio of 32.36, a P/E/G ratio of 2.49 and a beta of 0.90. The stock’s fifty day simple moving average is $169.54 and its two-hundred day simple moving average is $177.12. Badger Meter, Inc. has a 1-year low of $139.14 and a 1-year high of $256.08.

Badger Meter (NYSE:BMI) last posted 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). The company had revenue of $220.71 million during the quarter, compared to the consensus estimate of $232.30 million. Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $1.04 EPS. As a group, analysts forecast that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on BMI. Argus cut shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Monday, February 2nd. Stifel Nicolaus set a $166.00 price objective on shares of Badger Meter and gave the stock a “buy” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. decreased their target price on Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, January 29th. Jefferies Financial Group dropped their price target on Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $167.00 price target on shares of Badger Meter in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Badger Meter currently has a consensus rating of “Hold” and an average target price of $181.88.

Insiders Place Their Bets

In related news, EVP Robert Wrocklage bought 1,650 shares of Badger Meter stock in a transaction on Monday, February 9th. The stock was acquired at an average price of $152.35 per share, with a total value of $251,377.50. Following the acquisition, the executive vice president directly owned 19,541 shares of the company’s stock, valued at $2,977,071.35. This represents a 9.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kenneth Bockhorst purchased 3,300 shares of the stock in a transaction dated Tuesday, February 10th. The stock was purchased at an average cost of $152.42 per share, for a total transaction of $502,986.00. Following the completion of the acquisition, the chief executive officer owned 40,013 shares of the company’s stock, valued at approximately $6,098,781.46. This represents a 8.99% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.90% of the company’s stock.

Badger Meter Company Profile

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.