DNB Asset Management AS Increases Stock Holdings in Badger Meter, Inc. $BMI

DNB Asset Management AS raised its position in Badger Meter, Inc. (NYSE:BMI) by 52.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,628 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,005 shares during the period. DNB Asset Management AS’s holdings in Badger Meter were worth $2,551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMI. N.E.W. Advisory Services LLC acquired a new stake in shares of Badger Meter in the 4th quarter worth $25,000. Caitlin John LLC acquired a new stake in shares of Badger Meter during the 3rd quarter worth about $31,000. Brown Brothers Harriman & Co. increased its position in shares of Badger Meter by 62.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 71 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Badger Meter in the 2nd quarter valued at about $49,000. Finally, Strategic Advocates LLC acquired a new position in Badger Meter in the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings downgraded Badger Meter from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Wall Street Zen upgraded Badger Meter from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $167.00 price objective on shares of Badger Meter in a research note on Thursday, January 29th. Jefferies Financial Group decreased their price objective on Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Finally, Royal Bank Of Canada decreased their price objective on Badger Meter from $197.00 to $169.00 and set an “outperform” rating for the company in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $155.86.

Insider Activity

In other Badger Meter news, CEO Kenneth Bockhorst bought 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was purchased at an average price of $117.53 per share, for a total transaction of $258,566.00. Following the completion of the purchase, the chief executive officer directly owned 51,676 shares in the company, valued at $6,073,480.28. This trade represents a 4.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Edward F. Callahan bought 858 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were acquired at an average price of $116.30 per share, with a total value of $99,785.40. Following the purchase, the vice president owned 1,186 shares of the company’s stock, valued at $137,931.80. The trade was a 261.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 6,628 shares of company stock valued at $777,128 and have sold 3,989 shares valued at $596,002. 1.00% of the stock is owned by company insiders.

Badger Meter Stock Performance

Shares of BMI opened at $117.72 on Thursday. The stock has a 50-day simple moving average of $137.61 and a 200-day simple moving average of $158.34. The stock has a market capitalization of $3.44 billion, a PE ratio of 26.57, a PEG ratio of 2.14 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.

Badger Meter (NYSE:BMI) last posted its earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter. The firm had revenue of $220.71 million during the quarter. Badger Meter had a return on equity of 18.76% and a net margin of 14.56%. Analysts predict that Badger Meter, Inc. will post 4.5 EPS for the current year.

Badger Meter Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, May 22nd. This represents a $1.60 annualized dividend and a yield of 1.4%. Badger Meter’s payout ratio is presently 36.12%.

Badger Meter 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.