Abacus Wealth Partners LLC Purchases Shares of 10,205 Badger Meter, Inc. $BMI

Key Points

• Abacus Wealth Partners opened a new position in Badger Meter, buying 10,205 shares in Q4 worth about $1.78 million. The filing adds to evidence of continued institutional interest in the stock, with institutions owning about 89% of shares.
• Several other investors and company insiders also increased their exposure, including CEO Kenneth Bockhorst and EVP Robert Wrocklage, who made recent share purchases. Over the last 90 days, insiders bought more shares than they sold.
• Badger Meter’s stock has fallen sharply, recently trading at $114.19 near its 52-week low of $112.09, even as analysts currently rate it a consensus “Hold” with a price target of $155.86. The company also reported quarterly EPS of $1.14 and declared a $0.40 quarterly dividend payable June 5.

Abacus Wealth Partners LLC purchased a new stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,205 shares of the scientific and technical instruments company's stock, valued at approximately $1,780,000.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Badger Meter in the fourth quarter worth about $227,000. NewEdge Advisors LLC increased its position in Badger Meter by 328.0% in the first quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company's stock worth $717,000 after buying an additional 2,886 shares in the last quarter. Cetera Investment Advisers increased its position in Badger Meter by 10.6% in the second quarter. Cetera Investment Advisers now owns 2,334 shares of the scientific and technical instruments company's stock worth $572,000 after buying an additional 223 shares in the last quarter. M&T Bank Corp purchased a new stake in Badger Meter in the second quarter worth about $200,000. Finally, California Public Employees Retirement System increased its position in Badger Meter by 11.2% in the second quarter. California Public Employees Retirement System now owns 50,225 shares of the scientific and technical instruments company's stock worth $12,303,000 after buying an additional 5,041 shares in the last quarter. 89.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on BMI shares. Wall Street Zen upgraded Badger Meter from a "sell" rating to a "hold" rating in a research report on Sunday, May 10th. Stifel Nicolaus reduced their price target on Badger Meter from $174.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, April 20th. Zacks Research upgraded Badger Meter from a "strong sell" rating to a "hold" rating in a research report on Friday, April 3rd. Weiss Ratings cut Badger Meter from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group reduced their price target on Badger Meter from $220.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, January 29th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Badger Meter currently has a consensus rating of "Hold" and a consensus price target of $155.86.

Insiders Place Their Bets

In other Badger Meter news, CEO Kenneth Bockhorst acquired 2,200 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Wrocklage acquired 1,000 shares of the stock in a transaction on Thursday, April 23rd. The shares were acquired at an average price of $122.35 per share, with a total value of $122,350.00. Following the transaction, the executive vice president directly owned 23,321 shares of the company's stock, valued at $2,853,324.35. The trade was a 4.48% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 6,628 shares of company stock worth $777,128 and have sold 3,989 shares worth $596,002. 1.00% of the stock is owned by company insiders.

Badger Meter Stock Down 2.8%

NYSE:BMI opened at $114.19 on Friday. The business's 50-day simple moving average is $139.40 and its two-hundred day simple moving average is $159.86. The stock has a market cap of $3.33 billion, a PE ratio of 25.78, a P/E/G ratio of 2.05 and a beta of 0.68. Badger Meter, Inc. has a 52 week low of $112.09 and a 52 week high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 EPS for the quarter. The business 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%. Sell-side analysts anticipate that Badger Meter, Inc. will post 4.5 earnings per share for the current fiscal year.

Badger Meter Dividend Announcement

The business 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 $0.40 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.60 annualized dividend and a yield of 1.4%. Badger Meter's payout ratio is presently 36.12%.

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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