Choreo LLC Has $259,000 Stock Position in Badger Meter, Inc. (NYSE:BMI)

Choreo LLC increased its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,361 shares of the scientific and technical instruments company’s stock after buying an additional 60 shares during the period. Choreo LLC’s holdings in Badger Meter were worth $259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Badger Meter by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 796,528 shares of the scientific and technical instruments company’s stock worth $169,448,000 after buying an additional 17,873 shares in the last quarter. Invesco Ltd. lifted its position in Badger Meter by 1.6% during the 4th quarter. Invesco Ltd. now owns 500,946 shares of the scientific and technical instruments company’s stock worth $106,261,000 after buying an additional 7,719 shares in the last quarter. Norges Bank acquired a new position in Badger Meter during the 4th quarter worth about $94,547,000. JPMorgan Chase & Co. lifted its position in Badger Meter by 4.1% during the 4th quarter. JPMorgan Chase & Co. now owns 433,169 shares of the scientific and technical instruments company’s stock worth $91,884,000 after buying an additional 17,060 shares in the last quarter. Finally, Congress Asset Management Co. lifted its position in Badger Meter by 9.8% during the 1st quarter. Congress Asset Management Co. now owns 398,588 shares of the scientific and technical instruments company’s stock worth $75,831,000 after buying an additional 35,424 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Price Performance

Shares of BMI stock opened at $191.46 on Thursday. The stock has a market cap of $5.64 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 3.31 and a beta of 0.83. The stock has a 50-day moving average of $237.20 and a 200-day moving average of $218.88. Badger Meter, Inc. has a one year low of $162.17 and a one year high of $256.08.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.02). The company had revenue of $238.10 million during the quarter, compared to the consensus estimate of $235.38 million. Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $1.12 earnings per share. As a group, research analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Analysts Set New Price Targets

BMI has been the subject of several recent research reports. Raymond James Financial initiated coverage on Badger Meter in a report on Tuesday, June 3rd. They set a “market perform” rating for the company. Argus set a $240.00 price objective on Badger Meter in a report on Thursday, April 24th. Royal Bank Of Canada dropped their price objective on Badger Meter from $284.00 to $264.00 and set an “outperform” rating for the company in a report on Wednesday, July 23rd. Robert W. Baird boosted their price objective on Badger Meter from $216.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Finally, Stifel Nicolaus set a $224.00 price objective on Badger Meter in a report on Wednesday, July 23rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $238.40.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.