Argent Capital Management LLC Lowers Stock Position in Badger Meter, Inc. $BMI

Argent Capital Management LLC decreased its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 42.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,525 shares of the scientific and technical instruments company’s stock after selling 6,377 shares during the period. Argent Capital Management LLC’s holdings in Badger Meter were worth $1,487,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BMI. Vanguard Group Inc. raised its position in Badger Meter by 3.8% in the third quarter. Vanguard Group Inc. now owns 3,960,308 shares of the scientific and technical instruments company’s stock worth $707,232,000 after acquiring an additional 145,389 shares in the last quarter. State Street Corp boosted its position in shares of Badger Meter by 1.4% during the 2nd quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company’s stock worth $358,315,000 after purchasing an additional 20,122 shares in the last quarter. Invesco Ltd. boosted its position in shares of Badger Meter by 20.9% during the 3rd quarter. Invesco Ltd. now owns 970,219 shares of the scientific and technical instruments company’s stock worth $173,262,000 after purchasing an additional 168,053 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Badger Meter by 78.1% during the 2nd quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock worth $150,108,000 after purchasing an additional 268,799 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Badger Meter by 43.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 503,171 shares of the scientific and technical instruments company’s stock valued at $89,856,000 after purchasing an additional 153,213 shares in the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BMI. Zacks Research lowered shares of Badger Meter from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $167.00 price target on shares of Badger Meter in a research report on Thursday, January 29th. Stifel Nicolaus set a $166.00 price target on Badger Meter and gave the stock a “buy” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. dropped their price objective on Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, January 29th. Finally, Jefferies Financial Group reduced their price objective on Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Four 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. Based on data from MarketBeat.com, Badger Meter presently has an average rating of “Hold” and an average price target of $181.88.

Badger Meter Trading Up 0.4%

Shares of BMI opened at $148.49 on Friday. Badger Meter, Inc. has a 12-month low of $139.14 and a 12-month high of $256.08. The stock has a market cap of $4.33 billion, a P/E ratio of 30.94, a PEG ratio of 2.38 and a beta of 0.87. The company has a 50-day moving average of $156.52 and a two-hundred day moving average of $171.41.

Badger Meter (NYSE:BMI) last issued 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). Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.The business had revenue of $220.71 million for the quarter, compared to analysts’ expectations of $232.30 million. During the same period last year, the business earned $1.04 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.60 annualized dividend and a yield of 1.1%. Badger Meter’s payout ratio is presently 33.33%.

Insider Activity

In other news, EVP Robert Wrocklage acquired 1,650 shares of Badger Meter stock in a transaction that occurred on Monday, February 9th. The shares were acquired at an average price of $152.35 per share, with a total value of $251,377.50. Following the completion of the purchase, the executive vice president owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. This represents a 9.22% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Fred J. Begale sold 2,064 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $150.00, for a total value of $309,600.00. Following the transaction, the vice president directly owned 3,040 shares in the company, valued at approximately $456,000. This represents a 40.44% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,989 shares of company stock worth $596,002. Corporate insiders own 0.80% of the company’s stock.

About Badger Meter

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.