Voya Investment Management LLC Raises Stake in Badger Meter, Inc. (BMI)

Voya Investment Management LLC grew its holdings in Badger Meter, Inc. (NYSE:BMI) by 8.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,968 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,121 shares during the period. Voya Investment Management LLC’s holdings in Badger Meter were worth $557,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. NGAM Advisors L.P. raised its stake in shares of Badger Meter by 3.7% in the 2nd quarter. NGAM Advisors L.P. now owns 133,905 shares of the scientific and technical instruments company’s stock valued at $5,336,000 after acquiring an additional 4,834 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Badger Meter by 2.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,658,855 shares of the scientific and technical instruments company’s stock valued at $66,105,000 after acquiring an additional 41,724 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Badger Meter by 5.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 123,181 shares of the scientific and technical instruments company’s stock valued at $4,909,000 after acquiring an additional 6,640 shares during the period. Thrivent Financial For Lutherans raised its stake in shares of Badger Meter by 4.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 16,390 shares of the scientific and technical instruments company’s stock valued at $602,000 after acquiring an additional 750 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in shares of Badger Meter by 3.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 41,196 shares of the scientific and technical instruments company’s stock valued at $1,640,000 after acquiring an additional 1,350 shares during the period. 83.91% of the stock is currently owned by institutional investors and hedge funds.

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In related news, Director Andrew J. Policano sold 8,850 shares of Badger Meter stock in a transaction on Friday, September 1st. The shares were sold at an average price of $45.67, for a total transaction of $404,179.50. Following the sale, the director now owns 32,561 shares of the company’s stock, valued at approximately $1,487,060.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Beverly L. P. Smiley sold 7,550 shares of Badger Meter stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $45.26, for a total transaction of $341,713.00. Following the sale, the vice president now directly owns 56,449 shares in the company, valued at approximately $2,554,881.74. The disclosure for this sale can be found here. Insiders have sold a total of 24,400 shares of company stock worth $1,111,013 in the last ninety days. 4.50% of the stock is currently owned by insiders.

A number of brokerages have recently commented on BMI. Robert W. Baird reissued a “hold” rating and issued a $44.00 target price on shares of Badger Meter in a research note on Tuesday, October 17th. Stifel Nicolaus reissued a “hold” rating and issued a $43.00 target price (down previously from $49.00) on shares of Badger Meter in a research note on Tuesday, October 17th. Sidoti raised their target price on shares of Badger Meter from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Canaccord Genuity reissued a “hold” rating and issued a $40.00 target price on shares of Badger Meter in a research note on Friday, October 6th. Finally, Zacks Investment Research downgraded shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Badger Meter currently has a consensus rating of “Hold” and a consensus price target of $48.00.

Shares of Badger Meter, Inc. (NYSE BMI) opened at $44.35 on Friday. Badger Meter, Inc. has a one year low of $31.65 and a one year high of $52.10. The stock has a market cap of $1,291.12, a price-to-earnings ratio of 38.90 and a beta of 0.65.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Monday, October 16th. The scientific and technical instruments company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.08). Badger Meter had a return on equity of 12.62% and a net margin of 8.39%. The firm had revenue of $100.00 million for the quarter, compared to analysts’ expectations of $102.86 million. During the same period last year, the firm earned $0.30 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. analysts predict that Badger Meter, Inc. will post 1.19 earnings per share for the current year.

Badger Meter Profile

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

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

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