TD Asset Management Inc. decreased its position in Badger Meter, Inc. (NYSE:BMI) by 50.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,400 shares of the scientific and technical instruments company’s stock after selling 9,400 shares during the quarter. TD Asset Management Inc.’s holdings in Badger Meter were worth $523,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Badger Meter during the 4th quarter worth $19,768,000. Belpointe Asset Management LLC acquired a new position in Badger Meter during the 4th quarter worth $10,826,000. JPMorgan Chase & Co. boosted its position in Badger Meter by 622.9% during the 1st quarter. JPMorgan Chase & Co. now owns 135,972 shares of the scientific and technical instruments company’s stock worth $7,564,000 after acquiring an additional 117,162 shares during the period. BlackRock Inc. boosted its position in Badger Meter by 1.1% during the 4th quarter. BlackRock Inc. now owns 4,289,877 shares of the scientific and technical instruments company’s stock worth $211,103,000 after acquiring an additional 48,199 shares during the period. Finally, Copeland Capital Management LLC boosted its position in Badger Meter by 9.0% during the 1st quarter. Copeland Capital Management LLC now owns 470,820 shares of the scientific and technical instruments company’s stock worth $26,196,000 after acquiring an additional 38,677 shares during the period. Institutional investors own 82.88% of the company’s stock.
In other news, Director Richard A. Meeusen sold 8,571 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $56.85, for a total transaction of $487,261.35. Following the completion of the sale, the director now owns 74,582 shares in the company, valued at approximately $4,239,986.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Horst Gras sold 5,526 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $55.00, for a total value of $303,930.00. Following the completion of the transaction, the vice president now directly owns 6,651 shares of the company’s stock, valued at approximately $365,805. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,883 shares of company stock valued at $1,279,032. 2.60% of the stock is currently owned by corporate insiders.
Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Wednesday, April 17th. The scientific and technical instruments company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Badger Meter had a return on equity of 16.13% and a net margin of 7.17%. The business had revenue of $104.90 million for the quarter, compared to the consensus estimate of $111.47 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. Badger Meter’s revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts expect that Badger Meter, Inc. will post 1.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.03%. Badger Meter’s dividend payout ratio (DPR) is presently 38.96%.
A number of brokerages have issued reports on BMI. Stifel Nicolaus boosted their price target on Badger Meter from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Tuesday, April 16th. Zacks Investment Research raised Badger Meter from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $52.60.
About Badger Meter
Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.
Further Reading: Investing in Dividend Stocks
Receive News & Ratings for Badger Meter Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Badger Meter and related companies with MarketBeat.com's FREE daily email newsletter.