Badger Meter, Inc. $BMI Holdings Trimmed by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp reduced its position in shares of Badger Meter, Inc. (NYSE:BMI) by 58.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMI. Caitlin John LLC bought a new position in shares of Badger Meter during the 3rd quarter valued at about $31,000. Brown Brothers Harriman & Co. raised its holdings in shares of 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 worth $33,000 after purchasing an additional 71 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Badger Meter in the 3rd quarter worth approximately $38,000. Global X Japan Co. Ltd. lifted its stake in Badger Meter by 27.3% during the third quarter. Global X Japan Co. Ltd. now owns 266 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 57 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Badger Meter during the second quarter valued at approximately $49,000. 89.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on BMI. JPMorgan Chase & Co. reduced their target price on shares of Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, January 29th. Barclays set a $136.00 price target on Badger Meter and gave the company an “underweight” rating in a report on Thursday, January 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $191.00 price objective (down from $229.00) on shares of Badger Meter in a research report on Thursday, January 29th. Zacks Research lowered Badger Meter from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $167.00 target price on shares of Badger Meter in a report on Thursday, January 29th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $181.88.

Insiders Place Their Bets

In other Badger Meter news, CEO Kenneth Bockhorst purchased 3,300 shares of the stock in a transaction dated Tuesday, February 10th. The shares were acquired 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 owned 40,013 shares of the company’s stock, valued at $6,098,781.46. This represents a 8.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Wrocklage purchased 1,650 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were acquired at an average cost of $152.35 per share, for a total transaction of $251,377.50. Following the completion of the transaction, the executive vice president directly owned 19,541 shares of the company’s stock, valued at $2,977,071.35. This trade represents a 9.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 3,989 shares of company stock worth $596,002 over the last three months. Company insiders own 0.80% of the company’s stock.

Badger Meter Price Performance

Badger Meter stock opened at $152.37 on Tuesday. Badger Meter, Inc. has a fifty-two week low of $139.14 and a fifty-two week high of $256.08. The firm’s 50 day simple moving average is $158.04 and its 200-day simple moving average is $171.97. The company has a market cap of $4.45 billion, a P/E ratio of 31.74, a price-to-earnings-growth ratio of 2.35 and a beta of 0.87.

Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.01). Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The firm had revenue of $220.71 million during the quarter, compared to analysts’ expectations of $232.30 million. During the same quarter last year, the company posted $1.04 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, analysts expect that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a $0.40 dividend. The ex-dividend date 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 is presently 33.33%.

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.