Badger Meter, Inc. (NYSE:BMI) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in Badger Meter, Inc. (NYSE:BMI) by 4.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,742 shares of the scientific and technical instruments company’s stock after selling 117 shares during the period. Federated Hermes Inc.’s holdings in Badger Meter were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Badger Meter during the fourth quarter worth approximately $33,000. Asset Management One Co. Ltd. acquired a new stake in Badger Meter in the 3rd quarter valued at approximately $35,000. Planned Solutions Inc. bought a new stake in Badger Meter during the 4th quarter valued at $45,000. AdvisorNet Financial Inc boosted its position in Badger Meter by 8,666.7% during the 4th quarter. AdvisorNet Financial Inc now owns 526 shares of the scientific and technical instruments company’s stock worth $81,000 after acquiring an additional 520 shares during the period. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of Badger Meter by 2,392.9% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 698 shares of the scientific and technical instruments company’s stock worth $108,000 after purchasing an additional 670 shares in the last quarter. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Price Performance

Shares of BMI opened at $189.00 on Friday. The firm’s 50 day moving average is $163.88 and its 200-day moving average is $153.94. Badger Meter, Inc. has a 12-month low of $134.06 and a 12-month high of $190.39. The stock has a market capitalization of $5.55 billion, a P/E ratio of 54.47, a P/E/G ratio of 3.09 and a beta of 0.82.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.17. Badger Meter had a return on equity of 20.26% and a net margin of 13.81%. The company had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $182.25 million. During the same quarter in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was up 23.7% on a year-over-year basis. As a group, equities research analysts forecast that Badger Meter, Inc. will post 3.89 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Thursday, May 23rd. Badger Meter’s dividend payout ratio is 31.12%.

Insider Activity at Badger Meter

In other Badger Meter news, VP Fred J. Begale sold 1,203 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $162.92, for a total transaction of $195,992.76. Following the sale, the vice president now owns 2,181 shares in the company, valued at approximately $355,328.52. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, VP William R. A. Bergum sold 1,416 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $156.23, for a total value of $221,221.68. Following the completion of the sale, the vice president now owns 13,422 shares of the company’s stock, valued at $2,096,919.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Fred J. Begale sold 1,203 shares of Badger Meter stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $162.92, for a total value of $195,992.76. Following the transaction, the vice president now owns 2,181 shares in the company, valued at approximately $355,328.52. The disclosure for this sale can be found here. Insiders sold 2,813 shares of company stock worth $448,167 in the last quarter. 0.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Northcoast Research upgraded shares of Badger Meter from a “sell” rating to a “neutral” rating in a research note on Thursday, April 18th. Maxim Group boosted their price target on shares of Badger Meter from $190.00 to $207.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Robert W. Baird increased their price objective on shares of Badger Meter from $151.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Stifel Nicolaus boosted their target price on Badger Meter from $147.00 to $175.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, StockNews.com raised Badger Meter from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Badger Meter presently has an average rating of “Hold” and an average price target of $164.80.

Badger Meter Company Profile

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.