Comerica Bank Grows Position in Badger Meter, Inc. $BMI

Comerica Bank increased its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 98.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 18,750 shares of the scientific and technical instruments company’s stock after purchasing an additional 9,306 shares during the period. Comerica Bank’s holdings in Badger Meter were worth $3,270,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. N.E.W. Advisory Services LLC bought a new stake in Badger Meter in the 4th quarter valued at $25,000. Caitlin John LLC bought a new stake in Badger Meter in the 3rd quarter valued at $31,000. Brown Brothers Harriman & Co. increased its holdings in Badger Meter by 62.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 71 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Badger Meter in the 2nd quarter valued at $49,000. Finally, Salomon & Ludwin LLC bought a new stake in Badger Meter in the 3rd quarter valued at $38,000. 89.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Badger Meter

In other Badger Meter news, VP Edward F. Callahan bought 858 shares of Badger Meter stock in a transaction dated Tuesday, April 21st. The shares were purchased at an average cost of $116.30 per share, for a total transaction of $99,785.40. Following the acquisition, the vice president directly owned 1,186 shares in the company, valued at approximately $137,931.80. This represents a 261.59% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, VP Richard Htwe bought 1,700 shares of Badger Meter stock in a transaction dated Tuesday, April 21st. The stock was acquired at an average price of $116.13 per share, for a total transaction of $197,421.00. Following the completion of the acquisition, the vice president owned 7,603 shares in the company, valued at approximately $882,936.39. The trade was a 28.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 11,578 shares of company stock worth $1,531,492 and sold 3,989 shares worth $596,002. Corporate insiders own 1.00% of the company’s stock.

Badger Meter Stock Down 0.0%

Badger Meter stock opened at $121.92 on Monday. The company’s 50-day moving average price is $145.86 and its 200-day moving average price is $163.76. Badger Meter, Inc. has a twelve month low of $112.09 and a twelve month high of $256.08. The company has a market cap of $3.56 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 2.19 and a beta of 0.68.

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. Badger Meter had a net margin of 14.56% and a return on equity of 18.76%. The firm had revenue of $220.71 million for the quarter. As a group, sell-side analysts expect that Badger Meter, Inc. will post 4.5 earnings per share for the current fiscal year.

Badger Meter Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be issued a $0.40 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.3%. Badger Meter’s payout ratio is 36.12%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BMI. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $167.00 price target on shares of Badger Meter in a report on Thursday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of Badger Meter from $190.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Barclays set a $110.00 price target on shares of Badger Meter and gave the company an “underweight” rating in a report on Monday, April 20th. Royal Bank Of Canada reduced their price target on shares of Badger Meter from $197.00 to $169.00 and set an “outperform” rating on the stock in a report on Monday, April 20th. Finally, Maxim Group downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, April 23rd. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $155.86.

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.