Citigroup Inc. Reduces Position in Badger Meter, Inc. $BMI

Citigroup Inc. decreased its holdings in Badger Meter, Inc. (NYSE:BMI) by 59.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,457 shares of the scientific and technical instruments company’s stock after selling 16,618 shares during the period. Citigroup Inc.’s holdings in Badger Meter were worth $2,046,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new stake in shares of Badger Meter in the second quarter valued at approximately $49,000. Salomon & Ludwin LLC purchased a new position in Badger Meter during the third quarter worth approximately $38,000. Employees Retirement System of Texas purchased a new position in Badger Meter during the second quarter worth approximately $54,000. MAI Capital Management boosted its stake in 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 worth $64,000 after buying an additional 95 shares during the last quarter. Finally, Global X Japan Co. Ltd. boosted its stake in Badger Meter by 27.3% during the third quarter. Global X Japan Co. Ltd. now owns 266 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 57 shares during the last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Badger Meter

In other Badger Meter news, CEO Kenneth Bockhorst acquired 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average price of $152.42 per share, for a total transaction of $502,986.00. Following the completion of the acquisition, the chief executive officer owned 40,013 shares of the company’s stock, valued at approximately $6,098,781.46. This trade represents a 8.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kimberly K. Stoll sold 1,634 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $149.01, for a total transaction of $243,482.34. Following the sale, the vice president directly owned 3,256 shares in the company, valued at approximately $485,176.56. The trade was a 33.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,846 shares of company stock valued at $575,339 over the last three months. 0.90% of the stock is currently owned by company insiders.

Badger Meter Stock Up 1.9%

BMI opened at $148.79 on Monday. Badger Meter, Inc. has a 52 week low of $139.14 and a 52 week high of $256.08. The business has a fifty day simple moving average of $161.51 and a 200-day simple moving average of $173.60. The firm has a market cap of $4.34 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.39 and a beta of 0.87.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.01). Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The firm had revenue of $220.71 million during the quarter, compared to analysts’ expectations of $232.30 million. During the same quarter in the prior year, the firm posted $1.04 EPS. Badger Meter’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts expect that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BMI. JPMorgan Chase & Co. cut their target price 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $167.00 price target on shares of Badger Meter in a research report on Thursday, January 29th. Argus lowered shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Monday, February 2nd. Zacks Research cut shares of Badger Meter from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Finally, Robert W. Baird set a $165.00 target price on shares of Badger Meter in a research note on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $181.88.

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.