Hennion & Walsh Asset Management Inc. Reduces Stock Position in Badger Meter, Inc. $BMI

Hennion & Walsh Asset Management Inc. lessened its stake in Badger Meter, Inc. (NYSE:BMI) by 24.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,609 shares of the scientific and technical instruments company’s stock after selling 5,162 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.05% of Badger Meter worth $2,316,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS purchased a new stake in Badger Meter during the first quarter valued at $1,447,000. Capital Innovations LLC purchased a new position in Badger Meter in the fourth quarter worth about $6,867,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Badger Meter during the 4th quarter valued at about $2,126,000. Bessemer Group Inc. increased its position in shares of Badger Meter by 14.1% during the 4th quarter. Bessemer Group Inc. now owns 166,407 shares of the scientific and technical instruments company’s stock valued at $29,023,000 after purchasing an additional 20,624 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of Badger Meter by 15,880.4% in the 4th quarter. Hantz Financial Services Inc. now owns 8,949 shares of the scientific and technical instruments company’s stock worth $1,561,000 after purchasing an additional 8,893 shares during the period. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Trading Down 0.6%

Badger Meter stock opened at $135.69 on Wednesday. The firm has a 50 day moving average of $137.35 and a 200 day moving average of $140.66. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 31.70, a P/E/G ratio of 2.49 and a beta of 0.65. Badger Meter, Inc. has a 12-month low of $112.09 and a 12-month high of $204.00.

Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. The business had revenue of $220.30 million for the quarter, compared to the consensus estimate of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 earnings per share. On average, analysts predict that Badger Meter, Inc. will post 4.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BMI shares. Maxim Group downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of Badger Meter from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings upgraded shares of Badger Meter from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Zacks Research raised shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Barclays restated an “underweight” rating and issued a $112.00 price objective (up from $109.00) on shares of Badger Meter in a research note on Tuesday, July 28th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $164.00.

Insider Activity at Badger Meter

In other news, VP Edward F. Callahan bought 751 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were bought at an average price of $135.25 per share, for a total transaction of $101,572.75. Following the purchase, the vice president owned 1,937 shares in the company, valued at $261,979.25. This represents a 63.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is owned by insiders.

Badger Meter 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.