Bowen Hanes & Co. Inc. raised its holdings in shares of Badger Meter, Inc. (NYSE:BMI – Free Report) by 336.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 257,280 shares of the scientific and technical instruments company’s stock after purchasing an additional 198,305 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Badger Meter were worth $44,872,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Badger Meter by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 3,979,893 shares of the scientific and technical instruments company’s stock worth $694,133,000 after purchasing an additional 19,585 shares in the last quarter. State Street Corp increased its position in shares of Badger Meter by 1.4% during the second quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company’s stock worth $358,315,000 after purchasing an additional 20,122 shares in the last quarter. Invesco Ltd. increased its position in shares of Badger Meter by 20.9% during the third quarter. Invesco Ltd. now owns 970,219 shares of the scientific and technical instruments company’s stock worth $173,262,000 after purchasing an additional 168,053 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Badger Meter by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 876,854 shares of the scientific and technical instruments company’s stock valued at $152,951,000 after buying an additional 4,035 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Badger Meter by 39.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 754,402 shares of the scientific and technical instruments company’s stock valued at $131,592,000 after buying an additional 212,448 shares during the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Badger Meter news, EVP Robert Wrocklage purchased 1,000 shares of the stock in a transaction on Thursday, April 23rd. The shares were bought at an average cost of $122.35 per share, with a total value of $122,350.00. Following the completion of the acquisition, the executive vice president owned 23,321 shares in the company, valued at $2,853,324.35. This trade represents a 4.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kenneth Bockhorst purchased 2,200 shares of the stock in a transaction on Tuesday, April 21st. The stock was acquired at an average cost of $117.53 per share, for a total transaction of $258,566.00. Following the completion of the acquisition, the chief executive officer owned 51,676 shares of the company’s stock, valued at $6,073,480.28. The trade was a 4.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 6,628 shares of company stock valued at $777,128 in the last 90 days. 1.00% of the stock is currently owned by insiders.
Badger Meter Price Performance
Badger Meter (NYSE:BMI – Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 EPS for the quarter. Badger Meter had a net margin of 14.56% and a return on equity of 18.76%. The company had revenue of $220.71 million for the quarter. As a group, research analysts anticipate that Badger Meter, Inc. will post 4.51 EPS for the current fiscal year.
Badger Meter Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, May 22nd. Badger Meter’s dividend payout ratio is presently 36.12%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Badger Meter from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Zacks Research raised shares of Badger Meter from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Stifel Nicolaus set a $140.00 price objective on shares of Badger Meter in a report on Friday, May 22nd. Robert W. Baird dropped their price objective on shares of Badger Meter from $173.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, April 20th. Finally, Weiss Ratings lowered shares of Badger Meter from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $155.86.
View Our Latest Analysis on BMI
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.
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