Tower View Wealth Management LLC Lowers Holdings in Badger Meter, Inc. (NYSE:BMI)

Tower View Wealth Management LLC trimmed its position in Badger Meter, Inc. (NYSE:BMI) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,673 shares of the scientific and technical instruments company’s stock after selling 232 shares during the quarter. Badger Meter accounts for 1.6% of Tower View Wealth Management LLC’s holdings, making the stock its 28th largest holding. Tower View Wealth Management LLC’s holdings in Badger Meter were worth $2,791,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BMI. Norway Savings Bank raised its position in shares of Badger Meter by 10.6% in the 1st quarter. Norway Savings Bank now owns 2,718 shares of the scientific and technical instruments company’s stock worth $517,000 after acquiring an additional 260 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of Badger Meter by 15.1% in the 1st quarter. Avior Wealth Management LLC now owns 12,379 shares of the scientific and technical instruments company’s stock worth $2,355,000 after acquiring an additional 1,625 shares in the last quarter. River Street Advisors LLC raised its position in shares of Badger Meter by 5.5% in the 1st quarter. River Street Advisors LLC now owns 4,939 shares of the scientific and technical instruments company’s stock worth $940,000 after acquiring an additional 257 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Badger Meter by 46.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,396 shares of the scientific and technical instruments company’s stock worth $456,000 after acquiring an additional 761 shares in the last quarter. Finally, Global X Japan Co. Ltd. bought a new position in shares of Badger Meter in the 1st quarter worth $45,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BMI shares. Royal Bank Of Canada boosted their price target on Badger Meter from $238.00 to $252.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Raymond James Financial started coverage on Badger Meter in a research report on Tuesday, June 3rd. They issued a “market perform” rating for the company. Argus set a $240.00 price target on Badger Meter in a research report on Thursday, April 24th. Stifel Nicolaus upped their target price on Badger Meter from $200.00 to $230.00 and gave the company a “hold” rating in a research report on Monday, June 16th. Finally, Robert W. Baird reduced their target price on Badger Meter from $218.00 to $216.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Badger Meter currently has a consensus rating of “Hold” and an average target price of $236.60.

Badger Meter Stock Up 0.8%

Shares of BMI opened at $243.54 on Friday. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 53.64, a PEG ratio of 3.47 and a beta of 0.85. The stock’s 50-day moving average price is $232.43 and its 200-day moving average price is $216.90.

Badger Meter (NYSE:BMI) last issued its earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.22. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $220.39 million. Badger Meter had a return on equity of 22.35% and a net margin of 15.74%. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, equities analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 0.56%. Badger Meter’s dividend payout ratio is currently 29.96%.

Badger Meter Company Profile

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.