Jefferies Financial Group Inc. Invests $2.32 Million in Badger Meter, Inc. $BMI

Jefferies Financial Group Inc. purchased a new position in shares of Badger Meter, Inc. (NYSE:BMI) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 13,001 shares of the scientific and technical instruments company’s stock, valued at approximately $2,322,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMI. Vanguard Group Inc. boosted its stake in Badger Meter by 3.8% in the third quarter. Vanguard Group Inc. now owns 3,960,308 shares of the scientific and technical instruments company’s stock worth $707,232,000 after purchasing an additional 145,389 shares in the last quarter. State Street Corp increased its stake in shares of Badger Meter by 1.4% in the second quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company’s stock valued at $358,315,000 after buying an additional 20,122 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Badger Meter by 2.3% in the second quarter. Geode Capital Management LLC now owns 876,519 shares of the scientific and technical instruments company’s stock valued at $215,464,000 after buying an additional 19,340 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Badger Meter by 27.1% in the second 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 during the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in shares of Badger Meter by 78.1% in the second quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock valued at $150,108,000 after buying an additional 268,799 shares during the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Kimberly K. Stoll sold 1,634 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $149.01, for a total transaction of $243,482.34. Following the completion of the transaction, the vice president directly owned 3,256 shares in the company, valued at approximately $485,176.56. The trade was a 33.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kenneth Bockhorst purchased 3,300 shares of the stock in a transaction dated Tuesday, February 10th. The stock was bought at an average cost of $152.42 per share, with a total value of $502,986.00. Following the completion of the purchase, the chief executive officer owned 40,013 shares in the company, valued at $6,098,781.46. The trade was a 8.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 3,989 shares of company stock valued at $596,002 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

Badger Meter Stock Performance

Shares of Badger Meter stock opened at $147.11 on Wednesday. Badger Meter, Inc. has a 52 week low of $139.14 and a 52 week high of $256.08. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 2.40 and a beta of 0.87. The firm has a fifty day moving average of $160.29 and a two-hundred day moving average of $173.07.

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

Badger Meter Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued 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 1.1%. Badger Meter’s dividend payout ratio (DPR) is 33.33%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BMI. JPMorgan Chase & Co. decreased their price objective on shares of Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, January 29th. Argus downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Monday, February 2nd. Jefferies Financial Group reduced their target price on shares of Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Robert W. Baird set a $165.00 price target on shares of Badger Meter in a research note on Thursday, January 29th. Finally, Barclays set a $136.00 price target on shares of Badger Meter and gave the company an “underweight” rating in a report on Thursday, January 29th. Four equities research 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.