Bowen Hanes & Co. Inc. Sells 168,415 Shares of Badger Meter, Inc. $BMI

Bowen Hanes & Co. Inc. cut its stake in Badger Meter, Inc. (NYSE:BMI) by 74.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,975 shares of the scientific and technical instruments company’s stock after selling 168,415 shares during the quarter. Bowen Hanes & Co. Inc. owned about 0.20% of Badger Meter worth $10,532,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. lifted its holdings in shares of Badger Meter by 170.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 165 shares of the scientific and technical instruments company’s stock worth $41,000 after acquiring an additional 104 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Badger Meter in the 2nd quarter worth about $49,000. Salomon & Ludwin LLC purchased a new stake in Badger Meter in the 3rd quarter worth about $38,000. Employees Retirement System of Texas bought a new stake in Badger Meter in the second quarter worth about $54,000. Finally, MAI Capital Management boosted its position in shares of Badger Meter by 57.6% during the second quarter. MAI Capital Management now owns 260 shares of the scientific and technical instruments company’s stock valued at $64,000 after buying an additional 95 shares during the period. Institutional investors own 89.01% of the company’s stock.

Insider Buying and Selling

In related news, EVP Robert Wrocklage purchased 1,650 shares of Badger Meter stock in a transaction dated Monday, February 9th. The stock was purchased at an average cost of $152.35 per share, with a total value of $251,377.50. Following the transaction, the executive vice president owned 19,541 shares in the company, valued at approximately $2,977,071.35. The trade was a 9.22% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth Bockhorst acquired 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were bought at an average price of $152.42 per share, with a total value of $502,986.00. Following the completion of the purchase, the chief executive officer directly owned 40,013 shares in the company, valued at $6,098,781.46. The trade was a 8.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Badger Meter in a report on Wednesday, January 21st. Jefferies Financial Group reduced their target price on Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Barclays set a $136.00 target price on Badger Meter and gave the stock an “underweight” rating in a research report on Thursday, January 29th. Zacks Research cut shares of Badger Meter from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Finally, Robert W. Baird set a $165.00 price target on shares of Badger Meter in a research note on Thursday, January 29th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $181.88.

Badger Meter Trading Down 1.5%

Shares of Badger Meter stock opened at $159.53 on Friday. The stock’s fifty day moving average price is $167.47 and its 200-day moving average price is $176.27. The firm has a market cap of $4.66 billion, a P/E ratio of 33.24, a P/E/G ratio of 2.56 and a beta of 0.90. 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 quarterly earnings data 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). The business had revenue of $220.71 million during the quarter, compared to analysts’ expectations of $232.30 million. Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. Analysts forecast that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

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

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.