Badger Meter, Inc. $BMI Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management increased its Badger Meter stake by 70.3% in the fourth quarter, ending with 28,818 shares valued at about $5.0 million.
• Institutional ownership in Badger Meter remains high, with hedge funds and other investors holding 89.01% of the company. Several other firms also boosted their positions during recent quarters.
• Insiders were also buying: VP Richard Htwe and CEO Kenneth Bockhorst both purchased shares on April 21, while analysts currently have a Hold consensus rating with an average price target of $155.86.

Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 70.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,818 shares of the scientific and technical instruments company's stock after purchasing an additional 11,896 shares during the quarter. Meiji Yasuda Asset Management Co Ltd. owned approximately 0.10% of Badger Meter worth $5,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL grew its position in shares of Badger Meter by 67.0% during the third quarter. Tudor Investment Corp ET AL now owns 106,927 shares of the scientific and technical instruments company's stock worth $19,095,000 after acquiring an additional 42,891 shares during the last quarter. Alps Advisors Inc. grew its position in shares of Badger Meter by 85.9% during the third quarter. Alps Advisors Inc. now owns 82,568 shares of the scientific and technical instruments company's stock worth $14,745,000 after acquiring an additional 38,160 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Badger Meter by 14.1% during the fourth quarter. Bessemer Group Inc. now owns 166,407 shares of the scientific and technical instruments company's stock worth $29,023,000 after acquiring an additional 20,624 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Badger Meter during the fourth quarter worth approximately $2,126,000. Finally, JPMorgan Chase & Co. grew its position in shares of Badger Meter by 43.8% during the third quarter. JPMorgan Chase & Co. now owns 503,171 shares of the scientific and technical instruments company's stock worth $89,856,000 after acquiring an additional 153,213 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Insider Transactions at Badger Meter

In other news, VP Richard Htwe acquired 1,700 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were purchased at an average cost of $116.13 per share, for a total transaction of $197,421.00. Following the transaction, the vice president directly owned 7,603 shares in the company, valued at approximately $882,936.39. This represents a 28.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kenneth Bockhorst acquired 2,200 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was purchased 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 owned 51,676 shares in the company, valued at $6,073,480.28. The trade was a 4.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 6,628 shares of company stock worth $777,128 and sold 3,989 shares worth $596,002. Corporate insiders own 1.00% of the company's stock.

Badger Meter Price Performance

NYSE:BMI opened at $125.75 on Friday. The firm's fifty day moving average price is $136.65 and its 200 day moving average price is $157.69. Badger Meter, Inc. has a 1-year low of $112.09 and a 1-year high of $256.08. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 2.16 and a beta of 0.68.

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

Badger Meter Dividend Announcement

The company also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, May 22nd. Badger Meter's dividend payout ratio (DPR) is 36.12%.

Analysts Set New Price Targets

BMI has been the topic of a number of research reports. Wall Street Zen upgraded shares of Badger Meter from a "sell" rating to a "hold" rating in a research report on Sunday, May 10th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $167.00 target price on shares of Badger Meter in a research report on Thursday, January 29th. Royal Bank Of Canada restated an "outperform" rating on shares of Badger Meter in a research report on Thursday. 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 report on Friday, April 17th. Finally, Robert W. Baird lowered their target price on shares of Badger Meter from $173.00 to $145.00 and set an "outperform" rating on the stock in a research report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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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