Vanguard Group Inc. Grows Stake in Badger Meter, Inc. $BMI

Key Points

• Vanguard Group Inc. increased its stake in Badger Meter by 0.5% to 3,979,893 shares, representing about 13.50% of the company and valued at roughly $694.1 million.
• Insiders were net buyers recently: CEO Kenneth Bockhorst purchased 3,300 shares and EVP Robert Wrocklage bought 1,650 shares, with insiders acquiring 11,578 shares and selling 3,989 over the past 90 days.
• Badger Meter declared a quarterly dividend of $0.40 per share (annualized $1.60, ~1.3% yield), with shareholders of record on May 22 and payment scheduled for June 5.

Vanguard Group Inc. raised its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,979,893 shares of the scientific and technical instruments company's stock after acquiring an additional 19,585 shares during the period. Vanguard Group Inc. owned approximately 13.50% of Badger Meter worth $694,133,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new stake in shares of Badger Meter in the fourth quarter worth $25,000. Caitlin John LLC purchased a new stake in shares of Badger Meter in the third quarter worth $31,000. Brown Brothers Harriman & Co. grew its stake in shares of Badger Meter by 62.3% in the third quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company's stock worth $33,000 after acquiring an additional 71 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Badger Meter in the second quarter worth $49,000. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Badger Meter in the third quarter worth $38,000. 89.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Kenneth Bockhorst bought 3,300 shares of the stock in a transaction on Tuesday, February 10th. The shares were bought at an average price of $152.42 per share, with a total value of $502,986.00. Following the completion of the acquisition, the chief executive officer owned 40,013 shares in the company, valued at $6,098,781.46. The trade was a 8.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert Wrocklage bought 1,650 shares of the stock in a transaction on Monday, February 9th. The stock was purchased at an average cost of $152.35 per share, for a total transaction of $251,377.50. Following the acquisition, the executive vice president owned 19,541 shares of the company's stock, valued at $2,977,071.35. This trade represents a 9.22% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 11,578 shares of company stock valued at $1,531,492 and have sold 3,989 shares valued at $596,002. Insiders own 1.00% of the company's stock.

Badger Meter Price Performance

Shares of NYSE:BMI opened at $121.92 on Monday. The company has a market cap of $3.56 billion, a P/E ratio of 27.52, a PEG ratio of 2.19 and a beta of 0.68. Badger Meter, Inc. has a 1 year low of $112.09 and a 1 year high of $256.08. The stock's fifty day moving average price is $145.86 and its 200-day moving average price is $163.76.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly 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%. On average, sell-side analysts anticipate that Badger Meter, Inc. will post 4.5 earnings per share for the current year.

Badger Meter Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.40 per share. 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 dividend payout ratio is presently 36.12%.

Wall Street Analyst Weigh In

BMI has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on Badger Meter from $190.00 to $160.00 and set an "overweight" rating on the stock in a research note on Friday, April 17th. Jefferies Financial Group cut their target price on Badger Meter from $220.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, January 29th. Argus downgraded 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 Badger Meter and gave the company an "underweight" rating in a report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Badger Meter in a report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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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