Badger Meter, Inc. $BMI Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH lessened its position in shares of Badger Meter, Inc. (NYSE:BMI) by 29.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,002 shares of the scientific and technical instruments company’s stock after selling 8,733 shares during the quarter. Erste Asset Management GmbH’s holdings in Badger Meter were worth $3,716,000 at the end of the most recent reporting period.

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

Badger Meter Stock Down 2.5%

Shares of NYSE BMI opened at $152.33 on Friday. The firm has a 50-day simple moving average of $164.80 and a 200-day simple moving average of $175.10. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 2.45 and a beta of 0.90. Badger Meter, Inc. has a 52 week low of $139.14 and a 52 week high of $256.08.

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

Badger Meter Dividend Announcement

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

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of analysts have recently commented on BMI shares. Barclays set a $136.00 price objective on Badger Meter and gave the company an “underweight” rating in a research report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $167.00 price target on shares of Badger Meter in a research note on Thursday, January 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Badger Meter in a report on Wednesday, January 21st. Argus cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, January 29th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Badger Meter currently has a consensus rating of “Hold” and a consensus target price of $181.88.

Badger Meter Company 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.