Algert Global LLC Acquires 9,227 Shares of Badger Meter, Inc. (NYSE:BMI)

Algert Global LLC raised its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 11.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,560 shares of the scientific and technical instruments company's stock after buying an additional 9,227 shares during the period. Badger Meter comprises about 0.4% of Algert Global LLC's holdings, making the stock its 10th largest holding. Algert Global LLC owned about 0.29% of Badger Meter worth $18,361,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Barclays PLC increased its position in shares of Badger Meter by 348.5% during the third quarter. Barclays PLC now owns 55,090 shares of the scientific and technical instruments company's stock worth $12,034,000 after acquiring an additional 42,806 shares during the period. Tidal Investments LLC raised its position in Badger Meter by 9.0% in the 3rd quarter. Tidal Investments LLC now owns 8,750 shares of the scientific and technical instruments company's stock valued at $1,911,000 after purchasing an additional 726 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Badger Meter by 4.6% in the 3rd quarter. Synovus Financial Corp now owns 2,211 shares of the scientific and technical instruments company's stock valued at $483,000 after buying an additional 98 shares during the period. Franklin Resources Inc. grew its position in shares of Badger Meter by 14.2% during the third quarter. Franklin Resources Inc. now owns 18,317 shares of the scientific and technical instruments company's stock worth $4,126,000 after buying an additional 2,276 shares in the last quarter. Finally, Norway Savings Bank increased its stake in shares of Badger Meter by 145.8% during the fourth quarter. Norway Savings Bank now owns 2,458 shares of the scientific and technical instruments company's stock worth $521,000 after buying an additional 1,458 shares during the period. Institutional investors and hedge funds own 89.01% of the company's stock.

Insider Buying and Selling at Badger Meter

In other news, VP William R. A. Bergum sold 2,416 shares of Badger Meter stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $210.33, for a total transaction of $508,157.28. Following the completion of the sale, the vice president now directly owns 14,199 shares in the company, valued at approximately $2,986,475.67. This trade represents a 14.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kenneth Bockhorst sold 1,165 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $212.13, for a total value of $247,131.45. Following the completion of the sale, the chief executive officer now owns 52,620 shares in the company, valued at approximately $11,162,280.60. This represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,949 shares of company stock valued at $4,398,407. 0.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Maxim Group boosted their price target on shares of Badger Meter from $235.00 to $245.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Stifel Nicolaus cut their price target on Badger Meter from $209.00 to $196.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Argus set a $240.00 price objective on Badger Meter in a research report on Thursday, April 24th. Royal Bank of Canada raised their target price on Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Finally, Robert W. Baird lowered their price target on Badger Meter from $218.00 to $216.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $229.80.

Badger Meter Price Performance

Shares of BMI traded up $3.76 during mid-day trading on Thursday, reaching $229.63. 72,737 shares of the company's stock were exchanged, compared to its average volume of 203,061. The business's fifty day simple moving average is $199.84 and its 200-day simple moving average is $209.98. Badger Meter, Inc. has a 52-week low of $162.17 and a 52-week high of $239.11. The stock has a market capitalization of $6.76 billion, a PE ratio of 54.29, a price-to-earnings-growth ratio of 3.89 and a beta of 0.83.

Badger Meter (NYSE:BMI - Get Free Report) last announced its earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.22. The business had revenue of $222.21 million during the quarter, compared to analysts' expectations 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 in the prior year, the company earned $0.99 earnings per share. Equities research analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.34 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 0.59%. Badger Meter's dividend payout ratio (DPR) is 29.96%.

Badger Meter Company Profile

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.