Erste Asset Management GmbH Decreases Stock Holdings in Badger Meter, Inc. $BMI

Erste Asset Management GmbH reduced its position in Badger Meter, Inc. (NYSE:BMI) by 29.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,002 shares of the scientific and technical instruments company’s stock after selling 8,733 shares during the period. Erste Asset Management GmbH owned 0.07% of Badger Meter worth $3,716,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in Badger Meter in the second quarter valued at approximately $83,548,000. Westfield Capital Management Co. LP increased its position in shares of Badger Meter by 78.1% during the second quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock worth $150,108,000 after purchasing an additional 268,799 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Badger Meter by 108.2% during the 2nd quarter. Bank of America Corp DE now owns 342,099 shares of the scientific and technical instruments company’s stock valued at $83,797,000 after purchasing an additional 177,781 shares during the last quarter. Invesco Ltd. boosted its position in shares of Badger Meter by 27.1% in the 2nd quarter. Invesco Ltd. now owns 802,166 shares of the scientific and technical instruments company’s stock worth $196,491,000 after purchasing an additional 171,275 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Badger Meter by 43.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 503,171 shares of the scientific and technical instruments company’s stock worth $89,856,000 after buying an additional 153,213 shares during the last quarter. Institutional investors own 89.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BMI shares. Robert W. Baird set a $165.00 price target on Badger Meter in a research note on Thursday, January 29th. Argus lowered Badger Meter from a “buy” rating to a “hold” rating in a research note on Monday, February 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, January 29th. Barclays set a $136.00 target price on shares of Badger Meter and gave the stock an “underweight” rating in a research note on Thursday, January 29th. Finally, Zacks Research downgraded shares of Badger Meter from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $181.88.

Insider Transactions at Badger Meter

In related news, EVP Robert Wrocklage bought 1,650 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were purchased at an average cost of $152.35 per share, with a total value of $251,377.50. Following the completion of the acquisition, the executive vice president directly owned 19,541 shares in the company, valued at approximately $2,977,071.35. The trade was a 9.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kenneth Bockhorst purchased 3,300 shares of Badger Meter stock in a transaction that occurred 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 transaction, the chief executive officer owned 40,013 shares of the company’s stock, valued at $6,098,781.46. This represents a 8.99% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

Badger Meter Trading Down 2.5%

BMI opened at $152.33 on Friday. Badger Meter, Inc. has a 12-month low of $139.14 and a 12-month high of $256.08. The firm has a 50 day moving average of $164.80 and a two-hundred day moving average of $175.10. The firm has a market capitalization of $4.45 billion, a PE ratio of 31.74, a P/E/G ratio of 2.45 and a beta of 0.90.

Badger Meter (NYSE:BMI) last released its quarterly earnings data on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.The business had revenue of $220.71 million during the quarter, compared to analyst estimates of $232.30 million. During the same quarter in the previous year, the company earned $1.04 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, February 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Badger Meter’s dividend payout ratio (DPR) is presently 33.33%.

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.