Global X Management Co. LLC grew its holdings in Badger Meter, Inc. (NYSE:BMI) by 59.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,298 shares of the scientific and technical instruments company’s stock after purchasing an additional 8,340 shares during the period. Global X Management Co. LLC owned approximately 0.08% of Badger Meter worth $1,066,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in BMI. Rock Point Advisors LLC purchased a new stake in shares of Badger Meter in the third quarter valued at $201,000. Sei Investments Co. lifted its holdings in shares of Badger Meter by 30,007.4% in the third quarter. Sei Investments Co. now owns 16,258 shares of the scientific and technical instruments company’s stock valued at $203,000 after purchasing an additional 16,204 shares in the last quarter. Appleton Group LLC purchased a new stake in shares of Badger Meter in the fourth quarter valued at $203,000. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Badger Meter in the third quarter valued at $221,000. Finally, Bluestein R H & Co. purchased a new stake in shares of Badger Meter in the third quarter valued at $245,000. Institutional investors own 84.59% of the company’s stock.
Shares of Badger Meter, Inc. (NYSE:BMI) opened at $49.45 on Tuesday. Badger Meter, Inc. has a 1-year low of $34.40 and a 1-year high of $52.10. The stock has a market capitalization of $1,439.61, a price-to-earnings ratio of 41.91, a P/E/G ratio of 2.07 and a beta of 0.64.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.13 per share. The ex-dividend date is Tuesday, February 27th. This represents a $0.52 annualized dividend and a dividend yield of 1.05%. Badger Meter’s dividend payout ratio is 44.07%.
In related news, VP Fred J. Begale sold 2,000 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $45.60, for a total transaction of $91,200.00. Following the completion of the sale, the vice president now directly owns 7,609 shares in the company, valued at $346,970.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Richard E. Johnson sold 7,200 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $45.55, for a total value of $327,960.00. Following the sale, the chief financial officer now owns 105,976 shares of the company’s stock, valued at $4,827,206.80. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.
A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Badger Meter from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Thursday, January 18th. Stifel Nicolaus restated a “hold” rating and issued a $51.00 target price (up previously from $45.00) on shares of Badger Meter in a report on Tuesday, January 16th. Finally, Robert W. Baird increased their target price on Badger Meter from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $51.60.
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About Badger Meter
Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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