Badger Meter, Inc. $BMI Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. boosted its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 107.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 145,783 shares of the scientific and technical instruments company’s stock after purchasing an additional 75,415 shares during the quarter. Bessemer Group Inc. owned approximately 0.49% of Badger Meter worth $26,034,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Salomon & Ludwin LLC purchased a new position in shares of Badger Meter during the 3rd quarter valued at approximately $38,000. Cullen Frost Bankers Inc. raised its position in Badger Meter by 170.5% during the second quarter. Cullen Frost Bankers Inc. now owns 165 shares of the scientific and technical instruments company’s stock worth $41,000 after acquiring an additional 104 shares during the period. Global X Japan Co. Ltd. grew its position in shares of Badger Meter by 27.3% in the third quarter. Global X Japan Co. Ltd. now owns 266 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 57 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Badger Meter during the second quarter worth about $49,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Badger Meter during the 2nd quarter worth about $54,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Price Performance

Shares of NYSE BMI opened at $150.96 on Friday. The company has a market capitalization of $4.45 billion, a P/E ratio of 31.45, a P/E/G ratio of 2.34 and a beta of 0.90. The company has a 50 day simple moving average of $171.72 and a 200-day simple moving average of $178.68. 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 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 net margin of 15.45% and a return on equity of 20.71%. The business had revenue of $220.71 million during the quarter, compared to analysts’ expectations of $232.30 million. During the same quarter in the prior year, the firm earned $1.04 EPS. Badger Meter’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts expect that Badger Meter, Inc. will post 4.65 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays set a $136.00 price objective on Badger Meter and gave the stock an “underweight” rating in a research note on Thursday, January 29th. Stifel Nicolaus set a $166.00 price objective on Badger Meter and gave the company a “buy” rating in a research note on Thursday, January 29th. 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. Robert W. Baird set a $165.00 target price on shares of Badger Meter in a report on Thursday, January 29th. Finally, Argus cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research report on Monday, February 2nd. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Badger Meter has a consensus rating of “Hold” and an average target price of $181.88.

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.