Handelsbanken Fonder AB Raises Position in Badger Meter, Inc. $BMI

Handelsbanken Fonder AB raised its holdings in Badger Meter, Inc. (NYSE:BMI) by 113.9% in the fourth quarter, Holdings Channel reports. The fund owned 95,662 shares of the scientific and technical instruments company’s stock after buying an additional 50,949 shares during the period. Handelsbanken Fonder AB’s holdings in Badger Meter were worth $16,684,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. ProShare Advisors LLC raised its holdings in Badger Meter by 4.9% in the 4th quarter. ProShare Advisors LLC now owns 75,858 shares of the scientific and technical instruments company’s stock valued at $13,230,000 after acquiring an additional 3,542 shares during the last quarter. Alta Capital Management LLC acquired a new stake in Badger Meter in the 4th quarter valued at about $8,328,000. Gamco Investors INC. ET AL raised its holdings in Badger Meter by 0.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 93,725 shares of the scientific and technical instruments company’s stock valued at $16,347,000 after acquiring an additional 250 shares during the last quarter. Abacus Wealth Partners LLC acquired a new stake in Badger Meter in the 4th quarter valued at about $1,780,000. Finally, Plus Group Wealth Advisors LLC acquired a new stake in Badger Meter in the 4th quarter valued at about $616,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

Insider Transactions at Badger Meter

In related news, EVP Robert Wrocklage bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was purchased at an average price of $122.35 per share, for a total transaction of $122,350.00. Following the acquisition, the executive vice president owned 23,321 shares of the company’s stock, valued at approximately $2,853,324.35. This trade represents a 4.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kenneth Bockhorst bought 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was bought at an average price of $117.53 per share, with a total value of $258,566.00. Following the acquisition, the chief executive officer directly owned 51,676 shares in the company, valued at $6,073,480.28. The trade was a 4.45% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 6,628 shares of company stock worth $777,128 and have sold 3,989 shares worth $596,002. Company insiders own 1.00% of the company’s stock.

Badger Meter Stock Performance

Badger Meter stock opened at $117.72 on Thursday. Badger Meter, Inc. has a fifty-two week low of $112.09 and a fifty-two week high of $256.08. The firm has a 50 day moving average price of $137.61 and a 200 day moving average price of $158.34. The company has a market capitalization of $3.44 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 2.14 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 during the quarter. As a group, equities research analysts forecast that Badger Meter, Inc. will post 4.5 earnings per share for the current year.

Badger Meter Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, May 22nd. Badger Meter’s dividend payout ratio (DPR) is 36.12%.

Analyst Upgrades and Downgrades

A number of research firms have commented on BMI. Wall Street Zen upgraded shares of Badger Meter from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Maxim Group downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, April 23rd. Zacks Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Argus downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Jefferies Financial Group cut their price target on shares of Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $155.86.

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.