Lombard Odier Asset Management USA Corp Has $2.05 Million Position in Badger Meter, Inc. $BMI

Lombard Odier Asset Management USA Corp cut its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 58.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,475 shares of the scientific and technical instruments company’s stock after selling 16,285 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Badger Meter were worth $2,049,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BMI. Norges Bank acquired a new stake in shares of Badger Meter during the 2nd quarter valued at $83,548,000. Westfield Capital Management Co. LP increased its stake in shares of Badger Meter by 78.1% in 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 acquiring an additional 268,799 shares during the last quarter. Bamco Inc. NY purchased a new stake in shares of Badger Meter during the third quarter worth $45,435,000. Amundi raised its holdings in shares of Badger Meter by 99.5% during the third quarter. Amundi now owns 401,668 shares of the scientific and technical instruments company’s stock worth $72,203,000 after acquiring an additional 200,330 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in Badger Meter by 3,540.4% during the third quarter. Marshall Wace LLP now owns 192,031 shares of the scientific and technical instruments company’s stock valued at $34,293,000 after purchasing an additional 186,756 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Stock Performance

BMI opened at $152.37 on Tuesday. The company has a market cap of $4.45 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 2.35 and a beta of 0.87. The stock has a 50-day moving average of $158.04 and a 200-day moving average of $171.97. Badger Meter, Inc. has a 52-week low of $139.14 and a 52-week high of $256.08.

Badger Meter (NYSE:BMI) last issued 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 net margin of 15.45% and a return on equity of 20.71%. The company had revenue of $220.71 million during the quarter, compared to the consensus estimate of $232.30 million. During the same period in the previous year, the business posted $1.04 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. On average, research analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a $0.40 dividend. The ex-dividend date of this dividend was 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 currently 33.33%.

Insider Activity

In other news, CEO Kenneth Bockhorst acquired 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was acquired at an average cost of $152.42 per share, with a total value of $502,986.00. Following the acquisition, the chief executive officer owned 40,013 shares in the company, valued at approximately $6,098,781.46. This represents a 8.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kimberly K. Stoll sold 1,634 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $149.01, for a total transaction of $243,482.34. Following the completion of the transaction, the vice president owned 3,256 shares in the company, valued at $485,176.56. The trade was a 33.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,989 shares of company stock worth $596,002. 0.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BMI. Jefferies Financial Group lowered their target price on Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Badger Meter in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $167.00 price target on shares of Badger Meter in a report on Thursday, January 29th. 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.