Intech Investment Management LLC Acquires 7,862 Shares of Badger Meter, Inc. $BMI

Intech Investment Management LLC lifted its holdings in Badger Meter, Inc. (NYSE:BMI) by 26.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,846 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,862 shares during the quarter. Intech Investment Management LLC owned 0.13% of Badger Meter worth $6,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMI. Brighton Jones LLC bought a new stake in Badger Meter in the 4th quarter worth about $227,000. NewEdge Advisors LLC grew its stake in shares of Badger Meter by 328.0% in the first quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company’s stock worth $717,000 after acquiring an additional 2,886 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Badger Meter in the second quarter worth approximately $214,000. Atria Investments Inc raised its holdings in shares of Badger Meter by 20.0% during the second quarter. Atria Investments Inc now owns 3,385 shares of the scientific and technical instruments company’s stock valued at $829,000 after purchasing an additional 564 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of Badger Meter by 19.4% during the second quarter. Strs Ohio now owns 3,700 shares of the scientific and technical instruments company’s stock valued at $906,000 after purchasing an additional 600 shares during the last quarter. 89.01% of the stock is owned by institutional investors.

Badger Meter Stock Performance

Shares of Badger Meter stock opened at $152.33 on Friday. The stock has a market cap of $4.45 billion, a P/E ratio of 31.74, a P/E/G ratio of 2.51 and a beta of 0.90. The stock’s fifty day moving average is $164.80 and its 200 day moving average is $175.22. Badger Meter, Inc. has a one year low of $139.14 and a one year high of $256.08.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.01). Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The company had revenue of $220.71 million for the quarter, compared to the consensus estimate of $232.30 million. During the same period in the prior year, the firm posted $1.04 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, February 27th. Badger Meter’s dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $167.00 price target on shares of Badger Meter in a research note on Thursday, January 29th. Robert W. Baird set a $165.00 price objective on Badger Meter in a report on Thursday, January 29th. Zacks Research downgraded Badger Meter from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Badger Meter in a research note on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $181.88.

Insider Buying and Selling

In other news, CEO Kenneth Bockhorst purchased 3,300 shares of the stock in a transaction on Tuesday, February 10th. The shares were acquired 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 directly owned 40,013 shares of the company’s stock, valued at $6,098,781.46. This trade represents a 8.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert Wrocklage purchased 1,650 shares of the company’s stock in a transaction on Monday, February 9th. The stock was purchased at an average price of $152.35 per share, with a total value of $251,377.50. Following the completion of the transaction, the executive vice president owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. This trade represents a 9.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.80% of the stock is currently owned by company insiders.

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.