Badger Meter, Inc. $BMI Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its stake in Badger Meter, Inc. (NYSE:BMI) by 107.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,971 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,575 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Badger Meter were worth $1,218,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Values First Advisors Inc. lifted its position in Badger Meter by 0.6% in the first quarter. Values First Advisors Inc. now owns 8,739 shares of the scientific and technical instruments company’s stock valued at $1,663,000 after buying an additional 53 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Badger Meter by 0.6% during the second quarter. Maryland State Retirement & Pension System now owns 8,649 shares of the scientific and technical instruments company’s stock worth $2,119,000 after purchasing an additional 54 shares in the last quarter. Norway Savings Bank boosted its stake in shares of Badger Meter by 2.1% in the second quarter. Norway Savings Bank now owns 2,775 shares of the scientific and technical instruments company’s stock valued at $680,000 after purchasing an additional 57 shares during the period. Choreo LLC grew its holdings in shares of Badger Meter by 4.6% in the first quarter. Choreo LLC now owns 1,361 shares of the scientific and technical instruments company’s stock valued at $259,000 after purchasing an additional 60 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Badger Meter by 6.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,039 shares of the scientific and technical instruments company’s stock worth $255,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 89.01% of the company’s stock.

Analyst Upgrades and Downgrades

BMI has been the subject of several recent research reports. Royal Bank Of Canada decreased their price target on shares of Badger Meter from $284.00 to $264.00 and set an “outperform” rating for the company in a research report on Wednesday, July 23rd. Robert W. Baird boosted their target price on Badger Meter from $216.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Zacks Research upgraded Badger Meter from a “strong sell” rating to a “hold” rating in a report on Monday, September 22nd. Weiss Ratings cut Badger Meter from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. began coverage on shares of Badger Meter in a research note on Tuesday, September 9th. They set an “overweight” rating and a $230.00 target price on the stock. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $237.00.

Badger Meter Stock Up 1.1%

Shares of NYSE:BMI opened at $179.89 on Friday. The firm’s 50 day moving average price is $181.18 and its 200 day moving average price is $208.58. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 39.19, a price-to-earnings-growth ratio of 3.18 and a beta of 0.90. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $256.08.

Badger Meter (NYSE:BMI) last issued its earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.02). The firm had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.38 million. Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $1.12 EPS. On average, equities analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were paid a $0.40 dividend. This is an increase from Badger Meter’s previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, August 22nd. Badger Meter’s payout ratio is currently 34.86%.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.