Handelsbanken Fonder AB Boosts Stock Position in Badger Meter, Inc. $BMI

Handelsbanken Fonder AB grew its position in shares of Badger Meter, Inc. (NYSE:BMI) by 354.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 44,713 shares of the scientific and technical instruments company’s stock after acquiring an additional 34,879 shares during the period. Handelsbanken Fonder AB’s holdings in Badger Meter were worth $7,985,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Diversify Wealth Management LLC raised its stake in shares of Badger Meter by 3.1% during the third quarter. Diversify Wealth Management LLC now owns 5,927 shares of the scientific and technical instruments company’s stock worth $1,078,000 after acquiring an additional 178 shares in the last quarter. Xponance Inc. grew its holdings in shares of Badger Meter by 9.5% during the 3rd quarter. Xponance Inc. now owns 2,945 shares of the scientific and technical instruments company’s stock valued at $526,000 after purchasing an additional 256 shares during the last quarter. DNB Asset Management AS raised its position in Badger Meter by 33.4% in the 3rd quarter. DNB Asset Management AS now owns 9,623 shares of the scientific and technical instruments company’s stock worth $1,718,000 after purchasing an additional 2,407 shares during the period. Intech Investment Management LLC lifted its stake in Badger Meter by 26.2% in the third quarter. Intech Investment Management LLC now owns 37,846 shares of the scientific and technical instruments company’s stock worth $6,759,000 after purchasing an additional 7,862 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Badger Meter by 13.9% during the third quarter. TD Asset Management Inc now owns 6,718 shares of the scientific and technical instruments company’s stock valued at $1,200,000 after buying an additional 818 shares during the period. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Trading Down 2.5%

Shares of Badger Meter stock opened at $152.33 on Monday. Badger Meter, Inc. has a 12 month low of $139.14 and a 12 month high of $256.08. The firm has a market capitalization of $4.45 billion, a P/E ratio of 31.74, a P/E/G ratio of 2.45 and a beta of 0.87. The business has a fifty day simple moving average of $164.80 and a two-hundred day simple moving average of $174.97.

Badger Meter (NYSE:BMI) last issued 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 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 the consensus estimate of $232.30 million. During the same quarter in the previous year, the business earned $1.04 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. Analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders 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 payout ratio is 33.33%.

Insider Activity at Badger Meter

In other news, CEO Kenneth Bockhorst purchased 3,300 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were purchased at an average price of $152.42 per share, for a total transaction of $502,986.00. Following the completion of the acquisition, the chief executive officer directly owned 40,013 shares in the company, valued at $6,098,781.46. This represents a 8.99% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Wrocklage acquired 1,650 shares of the firm’s stock in a transaction that occurred 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 acquisition, the executive vice president owned 19,541 shares in the company, valued at $2,977,071.35. The trade was a 9.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Stifel Nicolaus set a $166.00 price objective on Badger Meter and gave the stock a “buy” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. reduced their target price on Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, January 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $191.00 price target (down from $229.00) on shares of Badger Meter in a research note on Thursday, January 29th. Jefferies Financial Group reduced their price objective on shares of Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Finally, Zacks Research cut 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 assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Badger Meter has an average rating of “Hold” and a consensus price target of $181.88.

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.