Intech Investment Management LLC Trims Stake in Badger Meter, Inc. $BMI

Key Points

• Intech Investment Management cut its stake in Badger Meter by 39.4% in the fourth quarter, selling 14,901 shares and leaving it with 22,945 shares valued at about $4.0 million.
• Wall Street sentiment on BMI is mixed but cautious: the stock currently has a Hold consensus rating, with an average price target of $155.86 after several analysts trimmed or downgraded views.
• Badger Meter recently reported quarterly EPS of $1.14, announced a $0.40 quarterly dividend, and saw insider buying from executives, even as the shares traded around $122.67, well below the 52-week high.

Intech Investment Management LLC trimmed its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 39.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,945 shares of the scientific and technical instruments company's stock after selling 14,901 shares during the quarter. Intech Investment Management LLC owned about 0.08% of Badger Meter worth $4,002,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new position in Badger Meter during the fourth quarter worth about $25,000. Godfrey Financial Associates Inc. purchased a new position in Badger Meter during the fourth quarter worth about $27,000. Caitlin John LLC purchased a new position in Badger Meter during the third quarter worth about $31,000. Brown Brothers Harriman & Co. grew its position in Badger Meter by 62.3% during the third quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company's stock worth $33,000 after buying an additional 71 shares in the last quarter. Finally, Strategic Advocates LLC purchased a new position in Badger Meter during the third quarter worth about $41,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on BMI. Wall Street Zen upgraded Badger Meter from a "sell" rating to a "hold" rating in a research report on Sunday, May 10th. Argus cut Badger Meter from a "buy" rating to a "hold" rating in a research report on Monday, February 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Badger Meter in a research note on Thursday, May 21st. Robert W. Baird dropped their price target on Badger Meter from $173.00 to $145.00 and set an "outperform" rating for the company in a research note on Monday, April 20th. Finally, Zacks Research raised Badger Meter from a "strong sell" rating to a "hold" rating in a research note on Friday, April 3rd. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $155.86.

Badger Meter Trading Down 1.0%

NYSE BMI opened at $122.67 on Tuesday. Badger Meter, Inc. has a 1-year low of $112.09 and a 1-year high of $256.08. The stock has a 50-day moving average of $133.87 and a 200-day moving average of $154.94. The firm has a market cap of $3.58 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 2.22 and a beta of 0.68.

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 for the quarter. Badger Meter had a return on equity of 18.76% and a net margin of 14.56%.The company had revenue of $220.71 million during the quarter. As a group, equities research analysts forecast that Badger Meter, Inc. will post 4.51 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, May 22nd. Badger Meter's payout ratio is 36.12%.

Insider Buying and Selling at Badger Meter

In other Badger Meter news, VP Richard Htwe purchased 1,700 shares of the stock in a transaction on Tuesday, April 21st. The stock was acquired at an average price of $116.13 per share, with a total value of $197,421.00. Following the transaction, the vice president directly owned 7,603 shares of the company's stock, valued at approximately $882,936.39. This trade represents a 28.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Wrocklage purchased 1,000 shares of the stock in a transaction on Thursday, April 23rd. The shares were acquired at an average cost 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 in the company, valued at $2,853,324.35. The trade was a 4.48% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 6,628 shares of company stock worth $777,128 over the last three months. 1.00% of the stock is owned by corporate 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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