DAVENPORT & Co LLC Has $775,000 Stake in Badger Meter, Inc. (NYSE:BMI)

DAVENPORT & Co LLC reduced its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,655 shares of the scientific and technical instruments company’s stock after selling 56 shares during the quarter. DAVENPORT & Co LLC’s holdings in Badger Meter were worth $775,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BMI. Heck Capital Advisors LLC bought a new position in shares of Badger Meter during the 4th quarter valued at about $39,000. Institute for Wealth Management LLC. increased its holdings in Badger Meter by 17.2% during the fourth quarter. Institute for Wealth Management LLC. now owns 1,727 shares of the scientific and technical instruments company’s stock worth $366,000 after buying an additional 253 shares during the last quarter. Nvest Financial LLC bought a new stake in shares of Badger Meter in the 4th quarter valued at about $318,000. R Squared Ltd bought a new stake in Badger Meter in the fourth quarter valued at approximately $28,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in Badger Meter during the 4th quarter valued at $1,838,000. Institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Down 2.7 %

Badger Meter stock opened at $215.63 on Friday. Badger Meter, Inc. has a twelve month low of $139.82 and a twelve month high of $239.11. The firm has a 50 day moving average price of $217.41 and a 200-day moving average price of $211.69. The company has a market capitalization of $6.34 billion, a P/E ratio of 50.98, a P/E/G ratio of 2.36 and a beta of 0.78.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Friday, January 31st. The scientific and technical instruments company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. Equities analysts expect that Badger Meter, Inc. will post 4.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BMI shares. Maxim Group boosted their price objective on shares of Badger Meter from $235.00 to $245.00 and gave the company a “buy” rating in a report on Monday. Stifel Nicolaus raised their target price on shares of Badger Meter from $208.00 to $209.00 and gave the company a “hold” rating in a research report on Monday. Finally, Robert W. Baird raised their price objective on shares of Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $218.75.

Badger Meter Company Profile

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.