Voya Investment Management LLC Cuts Stock Position in Badger Meter, Inc. $BMI

Voya Investment Management LLC cut its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 16.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,085 shares of the scientific and technical instruments company’s stock after selling 2,909 shares during the quarter. Voya Investment Management LLC’s holdings in Badger Meter were worth $2,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. raised its position in Badger Meter by 170.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 165 shares of the scientific and technical instruments company’s stock worth $41,000 after buying an additional 104 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Badger Meter in the second quarter valued at about $49,000. Employees Retirement System of Texas acquired a new position in shares of Badger Meter during the second quarter worth about $54,000. MAI Capital Management raised its holdings in Badger Meter by 57.6% during the second quarter. MAI Capital Management now owns 260 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 95 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in Badger Meter during the second quarter worth about $66,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Stock Performance

Badger Meter stock opened at $180.82 on Friday. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $256.08. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 38.47, a price-to-earnings-growth ratio of 2.98 and a beta of 0.93. The stock’s fifty day moving average is $180.61 and its two-hundred day moving average is $194.29.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Wednesday, October 22nd. The scientific and technical instruments company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. The business had revenue of $235.65 million during the quarter, compared to the consensus estimate of $231.88 million. Badger Meter had a return on equity of 21.12% and a net margin of 15.40%.The business’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 EPS. As a group, sell-side analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, November 21st. Badger Meter’s dividend payout ratio is 34.04%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BMI. Weiss Ratings cut Badger Meter from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Jefferies Financial Group assumed coverage on Badger Meter in a research note on Friday, December 12th. They issued a “buy” rating and a $220.00 price target on the stock. Stifel Nicolaus raised shares of Badger Meter from a “hold” rating to a “buy” rating and upped their price target for the stock from $208.00 to $215.00 in a research note on Wednesday, October 22nd. Royal Bank Of Canada set a $229.00 price target on shares of Badger Meter and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, Zacks Research raised shares of Badger Meter from a “strong sell” rating to a “hold” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.00.

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.