JPMorgan Chase & Co. Increases Holdings in Badger Meter, Inc. $BMI

JPMorgan Chase & Co. grew its holdings in Badger Meter, Inc. (NYSE:BMI) by 43.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 503,171 shares of the scientific and technical instruments company’s stock after acquiring an additional 153,213 shares during the quarter. JPMorgan Chase & Co. owned about 1.71% of Badger Meter worth $89,856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BMI. Norges Bank acquired a new position in Badger Meter in the second quarter valued at approximately $83,548,000. Westfield Capital Management Co. LP lifted its position in shares of Badger Meter by 78.1% during the 2nd quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock worth $150,108,000 after buying an additional 268,799 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Badger Meter by 108.2% during the 2nd quarter. Bank of America Corp DE now owns 342,099 shares of the scientific and technical instruments company’s stock worth $83,797,000 after buying an additional 177,781 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Badger Meter by 27.1% in the 2nd quarter. Invesco Ltd. now owns 802,166 shares of the scientific and technical instruments company’s stock valued at $196,491,000 after buying an additional 171,275 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in shares of Badger Meter by 43.7% in the 3rd quarter. Boston Trust Walden Corp now owns 330,039 shares of the scientific and technical instruments company’s stock valued at $58,938,000 after buying an additional 100,298 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Trading Down 2.0%

Badger Meter stock opened at $156.20 on Tuesday. The stock has a 50 day moving average of $166.92 and a two-hundred day moving average of $175.96. Badger Meter, Inc. has a twelve month low of $139.14 and a twelve month high of $256.08. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 2.56 and a beta of 0.90.

Badger Meter (NYSE:BMI) last released its earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The company had revenue of $220.71 million during the quarter, compared to analyst estimates of $232.30 million. During the same period in the previous year, the firm posted $1.04 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 27th. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. Badger Meter’s dividend payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

BMI has been the subject of a number of research reports. Barclays set a $136.00 price target on shares of Badger Meter and gave the company an “underweight” rating in a research report on Thursday, January 29th. Zacks Research cut Badger Meter from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. reduced their target price on Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, January 29th. Robert W. Baird set a $165.00 target price on Badger Meter in a research report on Thursday, January 29th. Finally, Jefferies Financial Group dropped their price target on Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $181.88.

Insider Buying and Selling at Badger Meter

In other news, EVP Robert Wrocklage purchased 1,650 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was purchased at an average cost of $152.35 per share, with a total value of $251,377.50. Following the completion of the acquisition, the executive vice president directly owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. This trade represents a 9.22% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth Bockhorst acquired 3,300 shares of Badger Meter stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average price of $152.42 per share, with a total value of $502,986.00. Following the transaction, the chief executive officer owned 40,013 shares of the company’s stock, valued at $6,098,781.46. This trade represents a 8.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.90% of the stock is currently owned by company 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.