KLP Kapitalforvaltning AS Grows Stake in Badger Meter, Inc. $BMI

KLP Kapitalforvaltning AS boosted its position in shares of Badger Meter, Inc. (NYSE:BMI) by 29.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,800 shares of the scientific and technical instruments company’s stock after purchasing an additional 8,400 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.12% of Badger Meter worth $6,572,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BMI. Brighton Jones LLC acquired a new position in shares of Badger Meter during the 4th quarter worth $227,000. Millennium Management LLC increased its holdings in Badger Meter by 1,239.4% during the 1st quarter. Millennium Management LLC now owns 128,961 shares of the scientific and technical instruments company’s stock valued at $24,535,000 after acquiring an additional 119,333 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Badger Meter by 328.0% during the 1st quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company’s stock valued at $717,000 after acquiring an additional 2,886 shares in the last quarter. Jones Financial Companies Lllp raised its position in Badger Meter by 186.9% during the first quarter. Jones Financial Companies Lllp now owns 6,372 shares of the scientific and technical instruments company’s stock worth $1,212,000 after acquiring an additional 4,151 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Badger Meter in the first quarter valued at about $369,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Stock Up 0.3%

Shares of NYSE:BMI opened at $174.59 on Friday. The company has a market cap of $5.15 billion, a P/E ratio of 37.15, a P/E/G ratio of 2.59 and a beta of 0.91. The business has a fifty day simple moving average of $179.09 and a 200-day simple moving average of $189.93. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08.

Badger Meter (NYSE:BMI) last released its earnings results on Wednesday, October 22nd. The scientific and technical instruments company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. The firm had revenue of $235.65 million for the quarter, compared to the consensus estimate of $231.88 million. Badger Meter had a return on equity of 21.12% and a net margin of 15.40%.The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 earnings per share. Sell-side analysts expect that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, November 21st. Badger Meter’s payout ratio is presently 34.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BMI shares. Royal Bank Of Canada set a $229.00 price objective on shares of Badger Meter and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Weiss Ratings downgraded Badger Meter from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on Badger Meter from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Monday, December 8th. Stifel Nicolaus raised Badger Meter from a “hold” rating to a “buy” rating and increased their price objective for the company from $208.00 to $215.00 in a research note on Wednesday, October 22nd. Finally, Jefferies Financial Group started coverage on Badger Meter in a research report on Friday, December 12th. They set a “buy” rating and a $220.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.25.

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.