Victory Capital Management Inc. Grows Stake in Badger Meter, Inc. (NYSE:BMI)

Victory Capital Management Inc. raised its position in shares of Badger Meter, Inc. (NYSE:BMI) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 249,363 shares of the scientific and technical instruments company’s stock after purchasing an additional 15,703 shares during the period. Victory Capital Management Inc.’s holdings in Badger Meter were worth $38,494,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in BMI. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Badger Meter in the fourth quarter valued at about $33,000. Asset Management One Co. Ltd. bought a new stake in shares of Badger Meter in the 3rd quarter valued at about $35,000. GAMMA Investing LLC purchased a new stake in shares of Badger Meter in the 4th quarter worth approximately $40,000. Planned Solutions Inc. bought a new position in shares of Badger Meter during the fourth quarter valued at approximately $45,000. Finally, AdvisorNet Financial Inc increased its holdings in Badger Meter by 8,666.7% during the fourth quarter. AdvisorNet Financial Inc now owns 526 shares of the scientific and technical instruments company’s stock valued at $81,000 after buying an additional 520 shares during the period. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at Badger Meter

In other Badger Meter news, VP Fred J. Begale sold 1,203 shares of Badger Meter 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 completion of the sale, the vice president now owns 2,181 shares of the company’s stock, valued at approximately $355,328.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP William R. A. Bergum sold 194 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $159.55, for a total value of $30,952.70. Following the transaction, the vice president now owns 13,672 shares in the company, valued at approximately $2,181,367.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Fred J. Begale sold 1,203 shares of Badger Meter stock in a transaction that occurred on Wednesday, March 6th. The shares were 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 of the company’s stock, valued at $355,328.52. The disclosure for this sale can be found here. Insiders have sold a total of 2,813 shares of company stock valued at $448,167 in the last ninety days. Company insiders own 0.80% of the company’s stock.

Badger Meter Price Performance

Shares of NYSE:BMI opened at $190.72 on Tuesday. The firm has a market capitalization of $5.61 billion, a P/E ratio of 54.96, a P/E/G ratio of 3.12 and a beta of 0.82. The business’s 50-day moving average is $164.56 and its 200 day moving average is $154.44. Badger Meter, Inc. has a 1 year low of $134.06 and a 1 year high of $191.50.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data 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. The firm had revenue of $196.80 million for the quarter, compared to the consensus estimate of $182.25 million. Badger Meter had a net margin of 13.81% and a return on equity of 20.26%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, analysts expect that Badger Meter, Inc. will post 3.89 EPS for the current year.

Badger Meter Announces Dividend

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

Badger Meter 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.