AGF Management Ltd. Sells 85,055 Shares of Badger Meter, Inc. $BMI

AGF Management Ltd. lessened its holdings in Badger Meter, Inc. (NYSE:BMI) by 87.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,308 shares of the scientific and technical instruments company’s stock after selling 85,055 shares during the quarter. AGF Management Ltd.’s holdings in Badger Meter were worth $2,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Bridges Investment Management Inc. grew its position in Badger Meter by 37.0% during the third quarter. Bridges Investment Management Inc. now owns 16,820 shares of the scientific and technical instruments company’s stock valued at $3,004,000 after buying an additional 4,544 shares during the period. State of Wyoming grew its position in shares of Badger Meter by 51.4% during the 3rd quarter. State of Wyoming now owns 984 shares of the scientific and technical instruments company’s stock valued at $176,000 after acquiring an additional 334 shares during the period. Lebenthal Global Advisors LLC increased its stake in shares of Badger Meter by 124.4% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 2,558 shares of the scientific and technical instruments company’s stock worth $457,000 after purchasing an additional 1,418 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Badger Meter by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 165,002 shares of the scientific and technical instruments company’s stock worth $29,466,000 after purchasing an additional 6,240 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC raised its holdings in shares of Badger Meter by 16.7% in the 3rd quarter. Bryn Mawr Trust Advisors LLC now owns 1,175 shares of the scientific and technical instruments company’s stock worth $210,000 after purchasing an additional 168 shares during the period. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Stock Down 0.4%

BMI stock opened at $145.79 on Friday. The stock has a 50-day simple moving average of $172.27 and a two-hundred day simple moving average of $179.33. Badger Meter, Inc. has a twelve month low of $139.14 and a twelve month high of $256.08. The firm has a market capitalization of $4.30 billion, a PE ratio of 30.37, a PEG ratio of 2.35 and a beta of 0.90.

Badger Meter (NYSE:BMI) last released its quarterly earnings data 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 firm had revenue of $220.71 million during the quarter, compared to the consensus estimate of $232.30 million. Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. Badger Meter’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 earnings per share. On average, equities research analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BMI has been the topic of several research reports. Barclays set a $136.00 target price on Badger Meter and gave the company an “underweight” rating in a research note on Thursday, January 29th. Zacks Research cut Badger Meter from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Jefferies Financial Group dropped their price objective on shares of Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Robert W. Baird set a $165.00 target price on shares of Badger Meter in a research note on Thursday, January 29th. Finally, Stifel Nicolaus set a $166.00 price target on shares of Badger Meter and gave the company a “buy” rating in a research report 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’s stock. Based on data from MarketBeat.com, Badger Meter currently has an average rating of “Hold” and a consensus 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.