47,749 Shares in Badger Meter, Inc. $BMI Bought by Alta Capital Management LLC

Key Points

• Alta Capital Management bought 47,749 shares of Badger Meter in the fourth quarter, a position valued at about $8.33 million and representing roughly 0.16% of the company.
• Badger Meter shares were up 3.9% in Tuesday trading, opening at $118.74, while the stock remains well below its 12-month high of $256.08.
• The company recently reported quarterly EPS of $1.14 on revenue of $220.71 million and also declared a $0.40 per share quarterly dividend, payable June 5.

Alta Capital Management LLC purchased a new position in Badger Meter, Inc. (NYSE:BMI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 47,749 shares of the scientific and technical instruments company's stock, valued at approximately $8,328,000. Alta Capital Management LLC owned approximately 0.16% of Badger Meter as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMI. N.E.W. Advisory Services LLC acquired a new stake in Badger Meter during the 4th quarter worth $25,000. Caitlin John LLC acquired a new stake in Badger Meter during the 3rd quarter worth $31,000. Brown Brothers Harriman & Co. boosted its stake 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 during the last quarter. Strategic Advocates LLC acquired a new stake in Badger Meter during the 3rd quarter worth $41,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Badger Meter during the 2nd quarter worth $49,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

Badger Meter Trading Up 3.9%

Shares of BMI opened at $118.74 on Tuesday. The firm has a market cap of $3.47 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 2.05 and a beta of 0.68. Badger Meter, Inc. has a 12-month low of $112.09 and a 12-month high of $256.08. The company's 50-day moving average price is $138.85 and its 200 day moving average price is $159.23.

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

Badger Meter Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be paid 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 yield of 1.3%. Badger Meter's dividend payout ratio is 36.12%.

Analyst Upgrades and Downgrades

BMI has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Badger Meter from $190.00 to $160.00 and set an "overweight" rating on the stock in a research note on Friday, April 17th. Stifel Nicolaus lowered their target price on shares of Badger Meter from $174.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Royal Bank Of Canada lowered their target price on shares of Badger Meter from $197.00 to $169.00 and set an "outperform" rating on the stock in a research note on Monday, April 20th. Wall Street Zen raised shares of Badger Meter from a "sell" rating to a "hold" rating in a research report on Sunday, May 10th. Finally, Barclays set a $110.00 price target on shares of Badger Meter and gave the company an "underweight" rating in a research report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Badger Meter has a consensus rating of "Hold" and an average price target of $155.86.

Insider Activity at Badger Meter

In other Badger Meter news, VP Christina M. Tarantino purchased 870 shares of the business's stock in a transaction on Tuesday, April 21st. The shares were bought at an average cost of $113.80 per share, for a total transaction of $99,006.00. Following the completion of the purchase, the vice president directly owned 1,801 shares of the company's stock, valued at approximately $204,953.80. This trade represents a 93.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Edward F. Callahan purchased 858 shares of the business's stock in a transaction on Tuesday, April 21st. The shares were acquired at an average price of $116.30 per share, for a total transaction of $99,785.40. Following the completion of the purchase, the vice president directly owned 1,186 shares of the company's stock, valued at approximately $137,931.80. This trade represents a 261.59% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 6,628 shares of company stock valued at $777,128 and sold 3,989 shares valued at $596,002. 1.00% of the stock is currently owned by company insiders.

About Badger Meter

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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