Badger Meter (NYSE:BMI) CEO Kenneth Bockhorst Purchases 3,300 Shares

Badger Meter, Inc. (NYSE:BMI) CEO Kenneth Bockhorst acquired 3,300 shares of Badger Meter stock in a transaction dated Tuesday, February 10th. The stock was purchased at an average price of $152.42 per share, with a total value of $502,986.00. Following the completion of the purchase, the chief executive officer directly owned 40,013 shares of the company’s stock, valued at $6,098,781.46. The trade was a 8.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Badger Meter Price Performance

Shares of NYSE BMI traded up $4.48 during trading hours on Wednesday, hitting $157.53. 116,245 shares of the company’s stock were exchanged, compared to its average volume of 434,042. The company’s 50-day moving average price is $170.84 and its 200-day moving average price is $177.84. Badger Meter, Inc. has a 1-year low of $139.14 and a 1-year high of $256.08. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 2.42 and a beta of 0.90.

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

Institutional Investors Weigh In On Badger Meter

Several large investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in shares of Badger Meter by 148.3% during the 2nd quarter. Franklin Resources Inc. now owns 48,190 shares of the scientific and technical instruments company’s stock worth $11,804,000 after purchasing an additional 28,779 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Badger Meter during the second quarter worth about $343,000. Commonwealth Equity Services LLC grew its stake in Badger Meter by 13.5% during the third quarter. Commonwealth Equity Services LLC now owns 70,488 shares of the scientific and technical instruments company’s stock worth $12,588,000 after buying an additional 8,387 shares in the last quarter. Boston Trust Walden Corp increased its holdings in Badger Meter by 43.7% in the 3rd quarter. Boston Trust Walden Corp now owns 330,039 shares of the scientific and technical instruments company’s stock valued at $58,938,000 after buying an additional 100,298 shares during the period. Finally, Alps Advisors Inc. raised its position in shares of Badger Meter by 85.9% in the 3rd quarter. Alps Advisors Inc. now owns 82,568 shares of the scientific and technical instruments company’s stock valued at $14,745,000 after buying an additional 38,160 shares in the last quarter. Institutional investors own 89.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BMI. JPMorgan Chase & Co. reduced their price target 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $167.00 target price on shares of Badger Meter in a report on Thursday, January 29th. Jefferies Financial Group dropped their price target on Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Stifel Nicolaus set a $166.00 price target on Badger Meter and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, Robert W. Baird set a $165.00 price objective on Badger Meter in a research report on Thursday, January 29th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Badger Meter has an average rating of “Hold” and an average price target of $181.88.

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.