Illinois Municipal Retirement Fund Buys 3,859 Shares of Badger Meter, Inc. $BMI

Illinois Municipal Retirement Fund grew its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 24.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,869 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,859 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.07% of Badger Meter worth $3,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in BMI. Salomon & Ludwin LLC acquired a new stake in Badger Meter in the third quarter valued at approximately $38,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Badger Meter by 170.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 165 shares of the scientific and technical instruments company’s stock worth $41,000 after purchasing an additional 104 shares in the last quarter. Global X Japan Co. Ltd. grew its position in Badger Meter by 27.3% in the 3rd 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 acquired a new stake in Badger Meter in the 2nd quarter valued at $49,000. Finally, Employees Retirement System of Texas bought a new stake in Badger Meter during the 2nd quarter valued at $54,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BMI. Argus lowered shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Monday, February 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $191.00 price target (down previously from $229.00) on shares of Badger Meter in a research report on Thursday, January 29th. JPMorgan Chase & Co. cut their price target on Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $167.00 price objective on shares of Badger Meter in a research note on Thursday, January 29th. Finally, Barclays set a $136.00 target price on Badger Meter and gave the company an “underweight” rating in a research report on Thursday, January 29th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $181.88.

Badger Meter Stock Down 1.9%

Shares of NYSE BMI opened at $155.33 on Friday. Badger Meter, Inc. has a twelve month low of $139.14 and a twelve month high of $256.08. The stock’s 50 day moving average price is $169.54 and its 200-day moving average price is $177.22. The company has a market capitalization of $4.58 billion, a PE ratio of 32.36, a PEG ratio of 2.49 and a beta of 0.90.

Badger Meter (NYSE:BMI) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $232.30 million. During the same period in the previous year, the business posted $1.04 earnings per share. The business’s revenue 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 fiscal year.

Insider Activity

In related news, EVP Robert Wrocklage acquired 1,650 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was acquired at an average price of $152.35 per share, for a total transaction of $251,377.50. Following the completion of the acquisition, the executive vice president owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. This represents a 9.22% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kenneth Bockhorst bought 3,300 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was bought at an average price of $152.42 per share, for a total transaction of $502,986.00. Following the completion of the purchase, the chief executive officer owned 40,013 shares of the company’s stock, valued at approximately $6,098,781.46. The trade was a 8.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.80% of the stock is currently owned by corporate insiders.

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.