Badger Meter, Inc. (NYSE:BMI) Shares Bought by Algert Global LLC

Algert Global LLC lifted its stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,560 shares of the scientific and technical instruments company's stock after purchasing an additional 9,227 shares during the period. Badger Meter accounts for about 0.4% of Algert Global LLC's portfolio, making the stock its 10th largest holding. Algert Global LLC owned approximately 0.29% of Badger Meter worth $18,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Badger Meter during the 4th quarter worth $94,547,000. Pictet Asset Management Holding SA increased its position in Badger Meter by 5,897.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 235,322 shares of the scientific and technical instruments company's stock worth $49,917,000 after purchasing an additional 231,398 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Badger Meter by 184.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 256,217 shares of the scientific and technical instruments company's stock worth $54,350,000 after purchasing an additional 166,191 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Badger Meter during the fourth quarter worth about $20,586,000. Finally, Congress Asset Management Co. boosted its holdings in Badger Meter by 23.1% in the 4th quarter. Congress Asset Management Co. now owns 363,164 shares of the scientific and technical instruments company's stock valued at $77,034,000 after purchasing an additional 68,137 shares during the last quarter. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Karen M. Bauer sold 1,147 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $209.74, for a total transaction of $240,571.78. Following the sale, the vice president now directly owns 5,076 shares in the company, valued at approximately $1,064,640.24. This represents a 18.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kenneth Bockhorst sold 16,073 shares of Badger Meter stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 34,961 shares of the company's stock, valued at $7,332,720.14. This represents a 31.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,949 shares of company stock worth $4,398,407 in the last ninety days. 0.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Robert W. Baird cut their price target on shares of Badger Meter from $218.00 to $216.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Stifel Nicolaus reduced their target price on Badger Meter from $209.00 to $196.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Argus set a $240.00 price target on Badger Meter in a research note on Thursday, April 24th. Royal Bank of Canada raised their price objective 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, Maxim Group upped their target price on shares of Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Three investment 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 an average rating of "Moderate Buy" and an average target price of $229.80.

Badger Meter Trading Up 2.6 %

Shares of NYSE BMI opened at $230.03 on Friday. The stock has a market capitalization of $6.78 billion, a PE ratio of 54.38, a PEG ratio of 3.89 and a beta of 0.84. Badger Meter, Inc. has a twelve month low of $162.17 and a twelve month high of $239.11. The stock has a fifty day simple moving average of $198.78 and a 200-day simple moving average of $209.67.

Badger Meter (NYSE:BMI - Get Free Report) last released its earnings results 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 company had revenue of $222.21 million during the quarter, compared to the consensus estimate of $220.39 million. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. During the same period in the previous year, the company posted $0.99 EPS. On average, equities analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Friday, May 23rd. Badger Meter's payout ratio is currently 29.96%.

Badger Meter 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.

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