California Public Employees Retirement System cut its holdings in Badger Meter, Inc. (NYSE:BMI) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,516 shares of the scientific and technical instruments company’s stock after selling 1,445 shares during the quarter. California Public Employees Retirement System owned about 0.28% of Badger Meter worth $3,944,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. boosted its holdings in shares of Badger Meter by 30,007.4% in the third quarter. Sei Investments Co. now owns 16,258 shares of the scientific and technical instruments company’s stock valued at $203,000 after acquiring an additional 16,204 shares in the last quarter. Appleton Group LLC purchased a new stake in shares of Badger Meter in the fourth quarter valued at about $203,000. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Badger Meter in the third quarter valued at about $221,000. Bluestein R H & Co. purchased a new stake in shares of Badger Meter in the third quarter valued at about $245,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Badger Meter in the third quarter valued at about $267,000. Institutional investors own 86.22% of the company’s stock.
Several analysts have recently weighed in on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $51.00 target price (up previously from $45.00) on shares of Badger Meter in a report on Tuesday, January 16th. Zacks Investment Research raised shares of Badger Meter from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 19th. Robert W. Baird lifted their target price on shares of Badger Meter from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Finally, Canaccord Genuity downgraded shares of Badger Meter from a “hold” rating to a “sell” rating and lowered their target price for the company from $48.00 to $42.00 in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $52.00.
Shares of Badger Meter, Inc. (NYSE:BMI) opened at $48.50 on Friday. The firm has a market cap of $1,420.65, a PE ratio of 41.10, a PEG ratio of 1.99 and a beta of 0.63. Badger Meter, Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $52.10.
Badger Meter (NYSE:BMI) last released its quarterly earnings data on Tuesday, February 6th. The scientific and technical instruments company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $96.65 million for the quarter, compared to the consensus estimate of $98.08 million. Badger Meter had a net margin of 8.59% and a return on equity of 12.78%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share. analysts predict that Badger Meter, Inc. will post 1.6 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Tuesday, February 27th. Badger Meter’s dividend payout ratio is currently 44.07%.
COPYRIGHT VIOLATION WARNING: This news story was first published by Week Herald and is the property of of Week Herald. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://weekherald.com/2018/03/16/california-public-employees-retirement-system-sells-1445-shares-of-badger-meter-inc-bmi.html.
About Badger Meter
Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
Want to see what other hedge funds are holding BMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Badger Meter, Inc. (NYSE:BMI).
Receive News & Ratings for Badger Meter Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Badger Meter and related companies with MarketBeat.com's FREE daily email newsletter.