Fred Begale Sells 2,064 Shares of Badger Meter (NYSE:BMI) Stock

Badger Meter, Inc. (NYSE:BMI) VP Fred Begale sold 2,064 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $150.00, for a total transaction of $309,600.00. Following the transaction, the vice president directly owned 3,040 shares of the company’s stock, valued at approximately $456,000. This represents a 40.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Badger Meter Stock Performance

BMI opened at $146.10 on Friday. Badger Meter, Inc. has a 1 year low of $139.14 and a 1 year high of $256.08. The company’s 50 day simple moving average is $162.15 and its 200 day simple moving average is $174.06. The stock has a market capitalization of $4.26 billion, a PE ratio of 30.44, a P/E/G ratio of 2.39 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). The company had revenue of $220.71 million for 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 period last year, the company posted $1.04 EPS. As a group, sell-side analysts expect that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, February 27th. Badger Meter’s dividend payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BMI shares. Stifel Nicolaus set a $166.00 price target on Badger Meter and gave the company a “buy” rating in a research report on Thursday, January 29th. Robert W. Baird set a $165.00 price objective on Badger Meter in a research note on Thursday, January 29th. Argus downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $167.00 price target on shares of Badger Meter in a report on Thursday, January 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Badger Meter in a research note on Wednesday, January 21st. Four 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, Badger Meter presently has an average rating of “Hold” and an average price target of $181.88.

Institutional Investors Weigh In On Badger Meter

Several hedge funds have recently modified their holdings of BMI. Caitong International Asset Management Co. Ltd lifted its position in Badger Meter by 212.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 266 shares of the scientific and technical instruments company’s stock worth $46,000 after acquiring an additional 181 shares in the last quarter. Clearwave Capital LLC purchased a new stake in shares of Badger Meter during the fourth quarter valued at approximately $271,000. Virtu Financial LLC purchased a new stake in shares of Badger Meter during the fourth quarter valued at approximately $438,000. Corient Private Wealth LLC lifted its position in shares of Badger Meter by 3.8% during the fourth quarter. Corient Private Wealth LLC now owns 8,925 shares of the scientific and technical instruments company’s stock worth $1,559,000 after purchasing an additional 324 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Badger Meter by 2.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,583 shares of the scientific and technical instruments company’s stock valued at $974,000 after purchasing an additional 135 shares during the period. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

About Badger Meter

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.