Bank of America Corp DE Sells 1,523 Shares of Badger Meter, Inc. (BMI)

Bank of America Corp DE lowered its holdings in Badger Meter, Inc. (NYSE:BMI) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,033 shares of the scientific and technical instruments company’s stock after selling 1,523 shares during the period. Bank of America Corp DE’s holdings in Badger Meter were worth $2,325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BMI. TD Asset Management Inc. acquired a new position in shares of Badger Meter in the second quarter worth about $746,000. First Trust Advisors LP boosted its holdings in shares of Badger Meter by 2.4% in the second quarter. First Trust Advisors LP now owns 187,186 shares of the scientific and technical instruments company’s stock worth $8,367,000 after buying an additional 4,316 shares during the period. Legal & General Group Plc boosted its holdings in shares of Badger Meter by 5.6% in the second quarter. Legal & General Group Plc now owns 63,706 shares of the scientific and technical instruments company’s stock worth $2,837,000 after buying an additional 3,356 shares during the period. US Bancorp DE boosted its holdings in shares of Badger Meter by 1.6% in the second quarter. US Bancorp DE now owns 72,275 shares of the scientific and technical instruments company’s stock worth $3,231,000 after buying an additional 1,116 shares during the period. Finally, Nuance Investments LLC acquired a new position in shares of Badger Meter in the second quarter worth about $9,780,000. 85.56% of the stock is currently owned by institutional investors.

BMI stock opened at $52.57 on Friday. The company has a market cap of $1.52 billion, a P/E ratio of 44.18, a P/E/G ratio of 3.85 and a beta of 0.70. Badger Meter, Inc. has a 52 week low of $41.00 and a 52 week high of $56.40.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Wednesday, October 17th. The scientific and technical instruments company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $110.60 million during the quarter, compared to analysts’ expectations of $109.67 million. Badger Meter had a net margin of 5.58% and a return on equity of 14.21%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. Analysts anticipate that Badger Meter, Inc. will post 1.5 EPS for the current year.

BMI has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Badger Meter from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Maxim Group began coverage on shares of Badger Meter in a report on Monday. They set a “buy” rating and a $65.00 price target for the company. Stifel Nicolaus raised their price target on shares of Badger Meter from $49.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, October 8th. Berenberg Bank began coverage on shares of Badger Meter in a report on Wednesday, October 3rd. They set a “sell” rating and a $43.00 price target for the company. Finally, Robert W. Baird restated a “hold” rating and set a $45.00 price target on shares of Badger Meter in a report on Friday, July 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $50.83.

In related news, VP Richard E. Johnson sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $50.43, for a total transaction of $958,170.00. Following the completion of the sale, the vice president now directly owns 56,982 shares in the company, valued at $2,873,602.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Fred J. Begale sold 2,362 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $55.01, for a total transaction of $129,933.62. Following the sale, the vice president now owns 7,269 shares of the company’s stock, valued at $399,867.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,792 shares of company stock valued at $2,538,748. 2.80% of the stock is currently owned by corporate insiders.

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Badger Meter Company Profile

Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.

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Institutional Ownership by Quarter for Badger Meter (NYSE:BMI)

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