Cardinal Capital Management trimmed its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 3.1% in the third quarter, HoldingsChannel reports. The firm owned 19,462 shares of the scientific and technical instruments company’s stock after selling 621 shares during the period. Cardinal Capital Management’s holdings in Badger Meter were worth $1,045,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in BMI. Invesco Ltd. increased its holdings in Badger Meter by 84.2% during the 2nd quarter. Invesco Ltd. now owns 754,169 shares of the scientific and technical instruments company’s stock valued at $45,016,000 after purchasing an additional 344,641 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Badger Meter by 283.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 347,920 shares of the scientific and technical instruments company’s stock valued at $20,767,000 after purchasing an additional 257,073 shares in the last quarter. Royal Bank of Canada increased its holdings in Badger Meter by 645.1% during the 2nd quarter. Royal Bank of Canada now owns 275,963 shares of the scientific and technical instruments company’s stock valued at $16,474,000 after purchasing an additional 238,928 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in Badger Meter during the 2nd quarter valued at $12,456,000. Finally, Copeland Capital Management LLC increased its holdings in Badger Meter by 21.1% during the 2nd quarter. Copeland Capital Management LLC now owns 570,172 shares of the scientific and technical instruments company’s stock valued at $34,034,000 after purchasing an additional 99,352 shares in the last quarter. 83.86% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on BMI. ValuEngine cut Badger Meter from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Maxim Group reaffirmed a “buy” rating and set a $64.00 price target on shares of Badger Meter in a report on Wednesday. Stifel Nicolaus dropped their price target on Badger Meter from $54.00 to $49.00 and set a “hold” rating for the company in a report on Friday, July 19th. Zacks Investment Research cut Badger Meter from a “hold” rating to a “sell” rating and set a $60.00 price target for the company. in a report on Tuesday, July 16th. Finally, Robert W. Baird raised their price target on Badger Meter from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Badger Meter has a consensus rating of “Hold” and a consensus price target of $56.25.
Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Thursday, October 17th. The scientific and technical instruments company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $108.60 million for the quarter, compared to analyst estimates of $110.39 million. Badger Meter had a return on equity of 14.85% and a net margin of 10.95%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.46 EPS. On average, equities analysts forecast that Badger Meter, Inc. will post 1.55 earnings per share for the current fiscal year.
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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