Badger Meter, Inc. (NYSE:BMI) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 14.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,086 shares of the scientific and technical instruments company's stock after selling 2,090 shares during the quarter. Lazard Asset Management LLC's holdings in Badger Meter were worth $2,562,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in Badger Meter during the 4th quarter worth approximately $25,000. R Squared Ltd purchased a new position in shares of Badger Meter during the fourth quarter worth approximately $28,000. Bessemer Group Inc. raised its position in Badger Meter by 162.5% in the 4th quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock valued at $31,000 after purchasing an additional 91 shares during the last quarter. Principal Securities Inc. raised its position in Badger Meter by 2,457.1% in the 4th quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company's stock valued at $38,000 after purchasing an additional 172 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in Badger Meter in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

Insider Activity at Badger Meter

In related news, VP William R. A. Bergum sold 2,416 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $210.33, for a total value of $508,157.28. Following the sale, the vice president now directly owns 14,199 shares of the company's stock, valued at approximately $2,986,475.67. This represents a 14.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kenneth Bockhorst sold 1,165 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 52,620 shares in the company, valued at approximately $11,162,280.60. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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.

Analyst Upgrades and Downgrades

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

Badger Meter Price Performance

NYSE BMI traded up $3.85 on Tuesday, hitting $247.20. 274,266 shares of the company's stock were exchanged, compared to its average volume of 206,514. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 58.44, a P/E/G ratio of 3.89 and a beta of 0.83. The firm's 50-day moving average price is $205.91 and its two-hundred day moving average price is $212.41. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $249.65.

Badger Meter (NYSE:BMI - Get Free Report) last issued its earnings results 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. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. The company had revenue of $222.21 million for the quarter, compared to analyst estimates of $220.39 million. During the same period in the previous year, the firm earned $0.99 EPS. On average, research analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal 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 paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Friday, May 23rd. Badger Meter's payout ratio is currently 29.96%.

About Badger Meter

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.