130,393 Shares in Badger Meter, Inc. $BMI Purchased by Conestoga Capital Advisors LLC

Key Points

• Conestoga Capital Advisors LLC opened a new position of 130,393 shares in Badger Meter (NYSE:BMI) in Q4, worth about $22.74 million and representing roughly 0.44% ownership.
• Company insiders have been net buyers recently — CEO Kenneth Bockhorst purchased 2,200 shares and a VP bought 870, with insiders buying 11,578 shares and selling 3,989 shares over the past 90 days.
• Badger Meter declared a quarterly dividend of $0.40 per share (annualized $1.60, yield ~1.3%, ex-dividend May 22), and analysts maintain a consensus Hold rating with an average price target of $155.86.

Conestoga Capital Advisors LLC acquired a new position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 130,393 shares of the scientific and technical instruments company's stock, valued at approximately $22,742,000. Conestoga Capital Advisors LLC owned approximately 0.44% of Badger Meter at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new stake in Badger Meter during the 4th quarter worth about $25,000. Caitlin John LLC purchased a new stake in Badger Meter during the 3rd quarter worth about $31,000. Brown Brothers Harriman & Co. increased its position in Badger Meter by 62.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 71 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Badger Meter during the 2nd quarter worth about $49,000. Finally, Salomon & Ludwin LLC purchased a new stake in Badger Meter during the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

Badger Meter Price Performance

BMI opened at $121.16 on Friday. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 2.12 and a beta of 0.90. The business has a 50-day moving average of $145.86 and a two-hundred day moving average of $163.96. Badger Meter, Inc. has a 12 month low of $112.09 and a 12 month high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 EPS for the quarter. Badger Meter had a return on equity of 18.76% and a net margin of 14.56%.The company had revenue of $220.71 million during the quarter. Equities research analysts anticipate that Badger Meter, Inc. will post 4.5 earnings per share for the current year.

Badger Meter Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. Badger Meter's payout ratio is presently 36.12%.

Insider Buying and Selling at Badger Meter

In other news, CEO Kenneth Bockhorst bought 2,200 shares of the firm's stock in a transaction dated Tuesday, April 21st. The stock was acquired at an average price of $117.53 per share, for a total transaction of $258,566.00. Following the acquisition, the chief executive officer owned 51,676 shares of the company's stock, valued at $6,073,480.28. This trade represents a 4.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Christina M. Tarantino bought 870 shares of the firm's stock in a transaction dated Tuesday, April 21st. The shares were purchased at an average price of $113.80 per share, with a total value of $99,006.00. Following the acquisition, the vice president directly owned 1,801 shares in the company, valued at approximately $204,953.80. This trade represents a 93.45% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 11,578 shares of company stock worth $1,531,492 and have sold 3,989 shares worth $596,002. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

BMI has been the subject of several recent analyst reports. Barclays set a $110.00 price target on Badger Meter and gave the company an "underweight" rating in a report on Monday, April 20th. Zacks Research upgraded Badger Meter from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Stifel Nicolaus lowered their price target on Badger Meter from $174.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 20th. Argus cut Badger Meter from a "buy" rating to a "hold" rating in a report on Monday, February 2nd. Finally, JPMorgan Chase & Co. lowered their price target on Badger Meter from $190.00 to $160.00 and set an "overweight" rating for the company in a report on Friday, April 17th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $155.86.

Badger Meter Profile

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company's core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company's product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.

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