Intech Investment Management LLC Acquires 7,862 Shares of Badger Meter, Inc. $BMI

Intech Investment Management LLC increased its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 26.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 37,846 shares of the scientific and technical instruments company’s stock after acquiring an additional 7,862 shares during the period. Intech Investment Management LLC’s holdings in Badger Meter were worth $6,759,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Salomon & Ludwin LLC bought a new position in Badger Meter in the 3rd quarter worth approximately $38,000. Global X Japan Co. Ltd. lifted its holdings in shares of Badger Meter by 27.3% in the third quarter. Global X Japan Co. Ltd. now owns 266 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 57 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Badger Meter during the second quarter worth $49,000. Employees Retirement System of Texas purchased a new position in Badger Meter during the second quarter valued at $54,000. Finally, MAI Capital Management increased its holdings in Badger Meter by 57.6% in the 2nd quarter. MAI Capital Management now owns 260 shares of the scientific and technical instruments company’s stock valued at $64,000 after acquiring an additional 95 shares during the last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on BMI. Royal Bank Of Canada reiterated an “outperform” rating and issued a $191.00 price target (down from $229.00) on shares of Badger Meter in a research note on Thursday, January 29th. Barclays set a $136.00 target price on Badger Meter and gave the stock an “underweight” rating in a research report on Thursday, January 29th. Stifel Nicolaus set a $166.00 price target on Badger Meter and gave the company a “buy” rating in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Badger Meter in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group lowered their target price on Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Badger Meter presently has a consensus rating of “Hold” and a consensus price target of $181.88.

Badger Meter Price Performance

NYSE:BMI opened at $152.33 on Friday. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 2.51 and a beta of 0.90. The business has a 50 day simple moving average of $164.80 and a 200-day simple moving average of $175.22. Badger Meter, Inc. has a 1 year low of $139.14 and a 1 year high of $256.08.

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

Badger Meter Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Badger Meter’s payout ratio is currently 33.33%.

Insider Activity

In other Badger Meter news, EVP Robert Wrocklage bought 1,650 shares of the company’s stock in a transaction on Monday, February 9th. The stock was acquired at an average price of $152.35 per share, for a total transaction of $251,377.50. Following the completion of the transaction, the executive vice president directly owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. This represents a 9.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth Bockhorst purchased 3,300 shares of Badger Meter stock in a transaction dated Tuesday, February 10th. The stock was acquired at an average price of $152.42 per share, for a total transaction of $502,986.00. Following the completion of the acquisition, the chief executive officer owned 40,013 shares of the company’s stock, valued at approximately $6,098,781.46. This trade represents a 8.99% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.80% of the company’s stock.

About Badger Meter

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.