Nuveen Asset Management LLC Sells 22,019 Shares of Badger Meter, Inc. (NYSE:BMI)

Nuveen Asset Management LLC reduced its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 9.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 199,637 shares of the scientific and technical instruments company's stock after selling 22,019 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.68% of Badger Meter worth $42,347,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMI. Aster Capital Management DIFC Ltd bought a new stake in Badger Meter during the 4th quarter valued at $25,000. R Squared Ltd bought a new position in shares of Badger Meter during the fourth quarter valued at about $28,000. Bessemer Group Inc. raised its stake in shares of Badger Meter by 162.5% during the fourth quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock valued at $31,000 after acquiring an additional 91 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Badger Meter by 2,457.1% during the fourth quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company's stock valued at $38,000 after acquiring an additional 172 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new position in Badger Meter during the 4th quarter valued at approximately $39,000. 89.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Badger Meter

In related news, CEO Kenneth Bockhorst sold 16,073 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total transaction of $3,371,151.02. Following the completion of the transaction, the chief executive officer now owns 34,961 shares of the company's stock, valued at $7,332,720.14. This trade represents a 31.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Karen M. Bauer sold 1,147 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $209.74, for a total value of $240,571.78. Following the transaction, the vice president now owns 5,076 shares of the company's stock, valued at $1,064,640.24. The trade was a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,949 shares of company stock valued at $4,398,407. Corporate insiders own 0.80% of the company's stock.

Badger Meter Stock Performance

Shares of NYSE:BMI opened at $243.17 on Tuesday. The stock has a 50 day moving average price of $204.87 and a 200-day moving average price of $212.17. The firm has a market capitalization of $7.16 billion, a P/E ratio of 57.49, a P/E/G ratio of 3.89 and a beta of 0.83. Badger Meter, Inc. has a 52-week low of $162.17 and a 52-week high of $249.65.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.22. The business had revenue of $222.21 million during the quarter, compared to the consensus estimate of $220.39 million. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, equities analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 annualized dividend and a dividend yield of 0.56%. Badger Meter's payout ratio is 29.96%.

Wall Street Analyst Weigh In

BMI has been the subject of a number of recent analyst reports. Robert W. Baird lowered their price target on Badger Meter from $218.00 to $216.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Maxim Group upped their target price on Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Argus set a $240.00 target price on Badger Meter in a report on Thursday, April 24th. Royal Bank of Canada upped their price objective on shares of Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Finally, Stifel Nicolaus decreased their price objective on shares of Badger Meter from $209.00 to $196.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $229.80.

Badger Meter Company Profile

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.

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