Badger Meter, Inc. $BMI Shares Bought by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management increased its Badger Meter stake by 25.3% in the fourth quarter, buying an additional 20,287 shares to reach 100,526 shares worth about $17.5 million.
• Badger Meter shares were down 0.7%, with the stock opening at $123.86, well below its 50-day average of $134.39 and 200-day average of $155.61.
• The company recently reported quarterly EPS of $1.14 on revenue of $220.71 million and declared a quarterly dividend of $0.40 per share, implying a 1.3% annual yield.

Jupiter Asset Management Ltd. grew its stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 25.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,526 shares of the scientific and technical instruments company's stock after acquiring an additional 20,287 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.34% of Badger Meter worth $17,533,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new position in shares of Badger Meter during the 4th quarter valued at about $25,000. Godfrey Financial Associates Inc. acquired a new stake in Badger Meter during the 4th quarter worth approximately $27,000. Caitlin John LLC acquired a new stake in Badger Meter during the 3rd quarter worth approximately $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. Finally, Canada Pension Plan Investment Board acquired a new stake in Badger Meter during the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 89.01% of the company's stock.

Badger Meter Stock Down 0.7%

NYSE:BMI opened at $123.86 on Friday. The business's 50-day moving average price is $134.39 and its 200 day moving average price is $155.61. The firm has a market cap of $3.62 billion, a P/E ratio of 27.96, a PEG ratio of 2.24 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 released its earnings results 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 return on equity of 18.76% and a net margin of 14.56%. Sell-side analysts expect that Badger Meter, Inc. will post 4.5 EPS for the current year.

Badger Meter Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be given a $0.40 dividend. 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 dividend payout ratio (DPR) is 36.12%.

Insiders Place Their Bets

In related news, VP Kimberly K. Stoll sold 1,634 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $149.01, for a total value of $243,482.34. Following the completion of the transaction, the vice president owned 3,256 shares in the company, valued at $485,176.56. This trade represents a 33.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Fred J. Begale sold 2,064 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $150.00, for a total value of $309,600.00. Following the completion of the transaction, the vice president owned 3,040 shares of the company's stock, valued at $456,000. This trade represents a 40.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have acquired 6,628 shares of company stock worth $777,128 and have sold 3,841 shares worth $573,746. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BMI shares. Barclays set a $110.00 price objective on shares of Badger Meter and gave the company an "underweight" rating 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 note on Friday, April 3rd. Royal Bank Of Canada restated an "outperform" rating on shares of Badger Meter in a research note on Thursday, May 21st. Robert W. Baird reduced their price objective on Badger Meter from $173.00 to $145.00 and set an "outperform" rating on the stock in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded Badger Meter from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $155.86.

Badger Meter Company 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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