News

Jun 09, 2023

Badger Meter, Inc. (NYSE:BMI) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in shares of Badger Meter, Inc.

JPMorgan Chase & Co. lessened its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Get Rating) by 15.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 777,228 shares of the scientific and technical instruments company's stock after selling 136,712 shares during the quarter. JPMorgan Chase & Co. owned about 2.66% of Badger Meter worth $84,742,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp raised its holdings in Badger Meter by 10.6% in the second quarter. State Street Corp now owns 2,070,197 shares of the scientific and technical instruments company's stock valued at $167,458,000 after acquiring an additional 198,228 shares in the last quarter. Congress Asset Management Co. MA raised its holdings in Badger Meter by 2,987.9% in the fourth quarter. Congress Asset Management Co. MA now owns 155,628 shares of the scientific and technical instruments company's stock valued at $16,968,000 after acquiring an additional 150,588 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Badger Meter by 129.1% in the second quarter. Goldman Sachs Group Inc. now owns 250,391 shares of the scientific and technical instruments company's stock valued at $20,254,000 after acquiring an additional 141,111 shares in the last quarter. Eaton Vance Management raised its holdings in Badger Meter by 1,077.6% in the first quarter. Eaton Vance Management now owns 99,946 shares of the scientific and technical instruments company's stock valued at $9,966,000 after acquiring an additional 91,459 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Badger Meter by 875.9% in the fourth quarter. Victory Capital Management Inc. now owns 100,378 shares of the scientific and technical instruments company's stock valued at $10,944,000 after acquiring an additional 90,092 shares in the last quarter. Institutional investors and hedge funds own 86.21% of the company's stock.

Shares of BMI opened at $146.51 on Wednesday. The firm has a market cap of $4.29 billion, a PE ratio of 60.05 and a beta of 0.88. The company's 50 day simple moving average is $132.54 and its 200-day simple moving average is $121.58. Badger Meter, Inc. has a 12-month low of $73.20 and a 12-month high of $146.99.

Badger Meter (NYSE:BMI - Get Rating) last posted its quarterly earnings data on Thursday, April 20th. The scientific and technical instruments company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.11. Badger Meter had a net margin of 12.08% and a return on equity of 16.45%. The firm had revenue of $159.10 million for the quarter, compared to analyst estimates of $142.73 million. During the same period last year, the firm posted $0.49 EPS. Badger Meter's quarterly revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts forecast that Badger Meter, Inc. will post 2.69 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Friday, May 26th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Thursday, May 25th. Badger Meter's dividend payout ratio (DPR) is currently 36.89%.

BMI has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of Badger Meter in a research note on Thursday, May 18th. They issued a "buy" rating on the stock. Robert W. Baird increased their price target on shares of Badger Meter from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Monday, April 17th. Argus increased their price target on shares of Badger Meter from $130.00 to $151.00 in a research note on Monday, April 24th. Stifel Nicolaus increased their price target on shares of Badger Meter from $108.00 to $109.00 and gave the company a "hold" rating in a research note on Monday, April 17th. Finally, Maxim Group raised their target price on shares of Badger Meter from $135.00 to $152.00 and gave the stock a "buy" rating in a research report on Friday, April 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $121.40.

Badger Meter, Inc engages in the provision of flow measurement, control products, and communications solutions that serve water utilities, municipalities, and commercial and industrial customers worldwide. Its products are classified into two categories: Municipal Water and Flow Instrumentation. Municipal water products include water meters and related technologies to municipal water utilities.

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