Handelsbanken Fonder AB Boosts Holdings in Badger Meter, Inc. $BMI

Key Points

• Handelsbanken Fonder AB more than doubled its stake in Badger Meter during the fourth quarter, buying an additional 50,949 shares and bringing its total to 95,662 shares worth about $16.7 million.
• Institutional interest in BMI remains high, with several other hedge funds also increasing holdings; overall, about 89.01% of the stock is owned by hedge funds and other institutional investors.
• Wall Street sentiment is cautious: analysts now have a consensus Hold rating on Badger Meter, while the company also reported recent insider buying by CEO Kenneth Bockhorst and EVP Robert Wrocklage.

Handelsbanken Fonder AB raised its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 113.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,662 shares of the scientific and technical instruments company's stock after purchasing an additional 50,949 shares during the quarter. Handelsbanken Fonder AB owned 0.32% of Badger Meter worth $16,684,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BMI. UBS Group AG boosted its holdings in Badger Meter by 89.2% in the fourth quarter. UBS Group AG now owns 712,650 shares of the scientific and technical instruments company's stock valued at $124,293,000 after purchasing an additional 335,953 shares during the last quarter. Bamco Inc. NY purchased a new stake in Badger Meter in the third quarter valued at $45,435,000. Pictet Asset Management Holding SA boosted its holdings in Badger Meter by 39.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 754,402 shares of the scientific and technical instruments company's stock valued at $131,592,000 after purchasing an additional 212,448 shares during the last quarter. Amundi boosted its holdings in Badger Meter by 99.5% in the third quarter. Amundi now owns 401,668 shares of the scientific and technical instruments company's stock valued at $72,203,000 after purchasing an additional 200,330 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in Badger Meter by 3,540.4% in the third quarter. Marshall Wace LLP now owns 192,031 shares of the scientific and technical instruments company's stock valued at $34,293,000 after purchasing an additional 186,756 shares during the last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Maxim Group lowered shares of Badger Meter from a "buy" rating to a "hold" rating in a report on Thursday, April 23rd. Argus lowered shares of Badger Meter from a "buy" rating to a "hold" rating in a report on Monday, February 2nd. Barclays set a $110.00 price target on shares of Badger Meter and gave the company an "underweight" rating in a report on Monday, April 20th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $167.00 price target on shares of Badger Meter in a report on Thursday, January 29th. Finally, 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. Five equities 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $155.86.

Insider Transactions at Badger Meter

In related news, CEO Kenneth Bockhorst purchased 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, April 21st. The shares were purchased at an average cost of $117.53 per share, with a total value of $258,566.00. Following the purchase, the chief executive officer owned 51,676 shares of the company's stock, valued at $6,073,480.28. This represents a 4.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Wrocklage purchased 1,000 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average cost of $122.35 per share, for a total transaction of $122,350.00. Following the completion of the purchase, the executive vice president directly owned 23,321 shares in the company, valued at $2,853,324.35. This represents a 4.48% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 6,628 shares of company stock worth $777,128 and sold 3,989 shares worth $596,002. 1.00% of the stock is owned by corporate insiders.

Badger Meter Stock Down 1.2%

BMI stock opened at $117.72 on Thursday. The company's 50-day simple moving average is $137.61 and its 200-day simple moving average is $158.34. Badger Meter, Inc. has a 52-week low of $112.09 and a 52-week high of $256.08. The firm has a market cap of $3.44 billion, a P/E ratio of 26.57, a PEG ratio of 2.14 and a beta of 0.68.

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

Badger Meter Announces Dividend

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 paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. Badger Meter's dividend payout ratio (DPR) is currently 36.12%.

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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