Ethic Inc. boosted its stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 103.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,093 shares of the scientific and technical instruments company's stock after purchasing an additional 2,595 shares during the period. Ethic Inc.'s holdings in Badger Meter were worth $1,080,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of BMI. Norges Bank purchased a new position in shares of Badger Meter in the 4th quarter valued at $94,547,000. Pictet Asset Management Holding SA grew its holdings in Badger Meter by 5,897.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 235,322 shares of the scientific and technical instruments company's stock valued at $49,917,000 after purchasing an additional 231,398 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Badger Meter by 184.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 256,217 shares of the scientific and technical instruments company's stock valued at $54,350,000 after purchasing an additional 166,191 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Badger Meter during the 4th quarter valued at $20,586,000. Finally, Ameriprise Financial Inc. grew its holdings in Badger Meter by 111.1% during the 4th quarter. Ameriprise Financial Inc. now owns 182,382 shares of the scientific and technical instruments company's stock valued at $38,687,000 after purchasing an additional 95,966 shares in the last quarter. Hedge funds and other institutional investors own 89.01% of the company's stock.
Badger Meter Stock Performance
Shares of Badger Meter stock traded up $0.87 during trading hours on Friday, reaching $245.05. The company's stock had a trading volume of 206,130 shares, compared to its average volume of 206,036. The stock has a market cap of $7.22 billion, a P/E ratio of 57.93, a price-to-earnings-growth ratio of 3.89 and a beta of 0.83. The company's 50 day simple moving average is $203.96 and its 200 day simple moving average is $211.75. Badger Meter, Inc. has a one year low of $162.17 and a one year high of $249.65.
Badger Meter (NYSE:BMI - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.22. The firm had revenue of $222.21 million for the quarter, compared to the consensus estimate of $220.39 million. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. During the same period last year, the firm posted $0.99 EPS. On average, sell-side analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.
Badger Meter Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.34 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.55%. Badger Meter's dividend payout ratio (DPR) is 29.96%.
Insiders Place Their Bets
In other Badger Meter news, VP William R. A. Bergum sold 148 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $212.13, for a total transaction of $31,395.24. Following the sale, the vice president now directly owns 14,051 shares in the company, valued at approximately $2,980,638.63. The trade was a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kenneth Bockhorst sold 16,073 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total transaction of $3,371,151.02. Following the sale, the chief executive officer now owns 34,961 shares in the company, valued at $7,332,720.14. This trade represents a 31.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,949 shares of company stock worth $4,398,407. 0.80% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on BMI shares. Stifel Nicolaus lowered their price target on shares of Badger Meter from $209.00 to $196.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Argus set a $240.00 price objective on shares of Badger Meter in a report on Thursday, April 24th. Maxim Group raised their price target on shares of Badger Meter from $235.00 to $245.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Robert W. Baird reduced their price target on shares of Badger Meter from $218.00 to $216.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Royal Bank of Canada raised their price target on shares of Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $229.80.
Get Our Latest Analysis on BMI
About Badger Meter
(
Free Report)
Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.
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