Voya Investment Management LLC cut its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,657 shares of the scientific and technical instruments company's stock after selling 3,742 shares during the period. Voya Investment Management LLC owned 0.06% of Badger Meter worth $3,745,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of BMI. MGO One Seven LLC increased its stake in Badger Meter by 20.8% in the fourth quarter. MGO One Seven LLC now owns 5,368 shares of the scientific and technical instruments company's stock valued at $1,139,000 after purchasing an additional 925 shares during the period. Price T Rowe Associates Inc. MD increased its position in Badger Meter by 184.6% in 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 acquiring an additional 166,191 shares during the period. Massar Capital Management LP purchased a new stake in Badger Meter during the 4th quarter valued at approximately $918,000. Stifel Financial Corp lifted its position in Badger Meter by 3.8% during the 4th quarter. Stifel Financial Corp now owns 12,425 shares of the scientific and technical instruments company's stock worth $2,636,000 after acquiring an additional 454 shares during the period. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Badger Meter by 929.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,316 shares of the scientific and technical instruments company's stock valued at $491,000 after purchasing an additional 2,091 shares during the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Badger Meter
In other news, VP William R. A. Bergum sold 2,416 shares of the business's stock in a transaction dated Friday, February 28th. The stock was 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 owns 14,199 shares in the company, valued at approximately $2,986,475.67. The trade was a 14.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kenneth Bockhorst sold 1,165 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $212.13, for a total transaction of $247,131.45. Following the completion of the transaction, the chief executive officer now directly 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. Insiders sold a total of 20,949 shares of company stock valued at $4,398,407 in the last ninety days. Corporate insiders own 0.80% of the company's stock.
Badger Meter Stock Performance
BMI stock traded up $0.99 during midday trading on Wednesday, hitting $225.29. 18,087 shares of the stock were exchanged, compared to its average volume of 203,466. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 53.26, a PEG ratio of 3.89 and a beta of 0.83. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $239.11. The stock's 50-day moving average price is $199.52 and its 200-day moving average price is $209.87.
Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The scientific and technical instruments company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.08 by $0.22. The business had revenue of $222.21 million for the quarter, compared to analyst estimates 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 previous year, the firm earned $0.99 EPS. Research analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current year.
Badger Meter Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders 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 annualized dividend and a dividend yield of 0.60%. Badger Meter's dividend payout ratio is presently 29.96%.
Analyst Ratings Changes
Several equities research analysts have recently commented 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 research note on Monday, April 21st. Robert W. Baird cut their price objective on shares of Badger Meter from $218.00 to $216.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Argus set a $240.00 target price on shares of Badger Meter in a report on Thursday, April 24th. Maxim Group increased 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $229.80.
Check Out Our Latest Research Report on Badger Meter
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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