Voya Investment Management LLC Trims Stake in Badger Meter, Inc. (NYSE:BMI)

Voya Investment Management LLC lowered its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 17.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,657 shares of the scientific and technical instruments company's stock after selling 3,742 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Badger Meter worth $3,745,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in shares of Badger Meter by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 350,378 shares of the scientific and technical instruments company's stock worth $74,322,000 after acquiring an additional 12,180 shares in the last quarter. Burney Co. acquired a new position in Badger Meter during the 4th quarter valued at about $385,000. Van ECK Associates Corp increased its holdings in Badger Meter by 68.1% during the 4th quarter. Van ECK Associates Corp now owns 33,395 shares of the scientific and technical instruments company's stock worth $7,083,000 after purchasing an additional 13,526 shares in the last quarter. Fortress Financial Solutions LLC bought a new stake in Badger Meter during the 4th quarter worth approximately $369,000. Finally, Schroder Investment Management Group raised its stake in shares of Badger Meter by 74.4% in the fourth quarter. Schroder Investment Management Group now owns 5,945 shares of the scientific and technical instruments company's stock worth $1,274,000 after purchasing an additional 2,536 shares during the last quarter. Institutional investors own 89.01% of the company's stock.

Badger Meter Stock Performance

BMI traded down $2.85 during midday trading on Tuesday, reaching $225.74. The company had a trading volume of 93,017 shares, compared to its average volume of 203,474. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $239.11. The business has a 50-day moving average price of $199.19 and a two-hundred day moving average price of $209.77. The stock has a market cap of $6.65 billion, a PE ratio of 53.38, a P/E/G ratio of 3.89 and a beta of 0.83.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The scientific and technical instruments company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.08 by $0.22. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. The business had revenue of $222.21 million for the quarter, compared to the consensus estimate of $220.39 million. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, research analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Dividend Announcement

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 issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.60%. The ex-dividend date is Friday, May 23rd. Badger Meter's dividend payout ratio (DPR) is currently 29.96%.

Insider Buying and Selling at Badger Meter

In related news, VP Karen M. Bauer sold 1,147 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total transaction of $240,571.78. Following the sale, the vice president now owns 5,076 shares of the company's stock, valued at approximately $1,064,640.24. This represents a 18.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth Bockhorst sold 16,073 shares of Badger Meter stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $209.74, for a total value of $3,371,151.02. Following the transaction, the chief executive officer now directly owns 34,961 shares of the company's stock, valued at $7,332,720.14. The trade was 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 valued at $4,398,407 over the last three months. 0.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.