Skandinaviska Enskilda Banken AB publ Sells 3,448 Shares of Badger Meter, Inc. $BMI

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 13.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,473 shares of the scientific and technical instruments company’s stock after selling 3,448 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Badger Meter were worth $3,835,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BMI. Salomon & Ludwin LLC purchased a new stake in shares of Badger Meter in the 3rd quarter valued at about $38,000. Cullen Frost Bankers Inc. raised its stake in Badger Meter by 170.5% in the second quarter. Cullen Frost Bankers Inc. now owns 165 shares of the scientific and technical instruments company’s stock valued at $41,000 after purchasing an additional 104 shares in the last quarter. Global X Japan Co. Ltd. raised its stake in Badger Meter by 27.3% in 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 in the last quarter. Canada Pension Plan Investment Board bought a new stake in Badger Meter during the second quarter valued at approximately $49,000. Finally, Employees Retirement System of Texas bought a new stake in Badger Meter during the second quarter valued at approximately $54,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Stock Down 1.5%

NYSE BMI opened at $159.53 on Friday. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 2.60 and a beta of 0.90. The company has a 50-day simple moving average of $167.47 and a two-hundred day simple moving average of $176.32. Badger Meter, Inc. has a 12-month low of $139.14 and a 12-month high of $256.08.

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

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Badger Meter’s dividend payout ratio is 33.33%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BMI. Barclays set a $136.00 price objective on shares of Badger Meter and gave the company an “underweight” rating in a research report on Thursday, January 29th. Argus cut Badger Meter from a “buy” rating to a “hold” rating in a research note on Monday, February 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $191.00 price target (down previously from $229.00) on shares of Badger Meter in a research note on Thursday, January 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Badger Meter in a report on Wednesday, January 21st. Finally, Zacks Research cut Badger Meter from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Four equities 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $181.88.

Insider Activity at Badger Meter

In other news, EVP Robert Wrocklage bought 1,650 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were purchased at an average price of $152.35 per share, for a total transaction of $251,377.50. Following the completion of the acquisition, the executive vice president owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. This trade represents a 9.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kenneth Bockhorst bought 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average cost of $152.42 per share, for a total transaction of $502,986.00. Following the completion of the purchase, the chief executive officer owned 40,013 shares of the company’s stock, valued at $6,098,781.46. This trade represents a 8.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.80% of the stock is currently owned by company insiders.

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.