Badger Meter, Inc. $BMI Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its position in shares of Badger Meter, Inc. (NYSE:BMI) by 16.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,085 shares of the scientific and technical instruments company’s stock after selling 2,909 shares during the period. Voya Investment Management LLC owned about 0.05% of Badger Meter worth $2,694,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BMI. Cullen Frost Bankers Inc. raised its stake in Badger Meter by 170.5% in the second quarter. Cullen Frost Bankers Inc. now owns 165 shares of the scientific and technical instruments company’s stock valued at $41,000 after buying an additional 104 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Badger Meter in the 2nd quarter valued at about $49,000. Employees Retirement System of Texas acquired a new stake in shares of Badger Meter during the 2nd quarter worth about $54,000. MAI Capital Management lifted its stake in Badger Meter by 57.6% during the second quarter. MAI Capital Management now owns 260 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 95 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in Badger Meter during the second quarter worth approximately $66,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BMI. Zacks Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, September 22nd. Robert W. Baird set a $205.00 target price on shares of Badger Meter and gave the company a “neutral” rating in a report on Monday, October 20th. Jefferies Financial Group started coverage on shares of Badger Meter in a research note on Friday, December 12th. They set a “buy” rating and a $220.00 price target on the stock. Weiss Ratings downgraded shares of Badger Meter from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their target price on Badger Meter from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.00.

Badger Meter Price Performance

BMI stock opened at $180.82 on Friday. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 38.47, a price-to-earnings-growth ratio of 2.98 and a beta of 0.93. The company has a fifty day moving average price of $180.61 and a 200 day moving average price of $194.29. Badger Meter, Inc. has a 12 month low of $162.17 and a 12 month high of $256.08.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Wednesday, October 22nd. The scientific and technical instruments company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. Badger Meter had a net margin of 15.40% and a return on equity of 21.12%. The company had revenue of $235.65 million for the quarter, compared to the consensus estimate of $231.88 million. During the same period last year, the firm posted $1.08 EPS. Badger Meter’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, November 21st. Badger Meter’s payout ratio is 34.04%.

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.