Principal Financial Group Inc. Has $29.47 Million Holdings in Badger Meter, Inc. $BMI

Principal Financial Group Inc. raised its stake in Badger Meter, Inc. (NYSE:BMI) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 165,002 shares of the scientific and technical instruments company’s stock after buying an additional 6,240 shares during the quarter. Principal Financial Group Inc. owned 0.56% of Badger Meter worth $29,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BMI. Norges Bank acquired a new stake in shares of Badger Meter in the 2nd quarter valued at approximately $83,548,000. Westfield Capital Management Co. LP raised its holdings in Badger Meter by 78.1% in the second quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock worth $150,108,000 after purchasing an additional 268,799 shares during the period. Bank of America Corp DE boosted its position in shares of Badger Meter by 108.2% during the second quarter. Bank of America Corp DE now owns 342,099 shares of the scientific and technical instruments company’s stock worth $83,797,000 after purchasing an additional 177,781 shares in the last quarter. Invesco Ltd. boosted its position in shares of Badger Meter by 27.1% during the second quarter. Invesco Ltd. now owns 802,166 shares of the scientific and technical instruments company’s stock worth $196,491,000 after purchasing an additional 171,275 shares in the last quarter. Finally, Aberdeen Group plc acquired a new position in shares of Badger Meter in the 2nd quarter valued at $27,884,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Trading Up 3.5%

Shares of BMI opened at $150.96 on Friday. Badger Meter, Inc. has a 12 month low of $139.14 and a 12 month high of $256.08. The firm has a fifty day simple moving average of $171.72 and a 200 day simple moving average of $178.68. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 2.34 and a beta of 0.90.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data 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 return on equity of 20.71% and a net margin of 15.45%.The business had revenue of $220.71 million for the quarter, compared to analyst estimates of $232.30 million. During the same quarter in the prior year, the company earned $1.04 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BMI shares. Jefferies Financial Group reduced their target price on Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Argus cut Badger Meter from a “buy” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Badger Meter in a research report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their target price on shares of Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, January 29th. Finally, Robert W. Baird set a $165.00 price target on shares of Badger Meter in a research note on Thursday, January 29th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, 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.