Congress Asset Management Co. Grows Position in Badger Meter, Inc. $BMI

Congress Asset Management Co. raised its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,233 shares of the scientific and technical instruments company’s stock after purchasing an additional 13,011 shares during the period. Congress Asset Management Co. owned 0.34% of Badger Meter worth $17,656,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of Badger Meter by 189.2% during the 4th quarter. SG Americas Securities LLC now owns 22,275 shares of the scientific and technical instruments company’s stock worth $3,885,000 after buying an additional 14,572 shares during the last quarter. Dudley & Shanley Inc. acquired a new stake in Badger Meter during the fourth quarter worth about $14,423,000. Park Avenue Securities LLC raised its holdings in shares of Badger Meter by 3.3% in the 4th quarter. Park Avenue Securities LLC now owns 2,854 shares of the scientific and technical instruments company’s stock worth $498,000 after purchasing an additional 91 shares during the period. GAMMA Investing LLC lifted its stake in shares of Badger Meter by 23.0% in the 4th quarter. GAMMA Investing LLC now owns 652 shares of the scientific and technical instruments company’s stock valued at $114,000 after purchasing an additional 122 shares in the last quarter. Finally, Mirova grew its holdings in shares of Badger Meter by 1.6% during the 3rd quarter. Mirova now owns 49,171 shares of the scientific and technical instruments company’s stock worth $8,781,000 after purchasing an additional 754 shares during the period. Institutional investors and hedge funds own 89.01% of the company’s stock.

Insider Activity

In related news, VP Fred J. Begale sold 2,064 shares of Badger Meter stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $150.00, for a total transaction of $309,600.00. Following the sale, the vice president owned 3,040 shares of the company’s stock, valued at $456,000. The trade was a 40.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert Wrocklage acquired 1,650 shares of the business’s stock in a transaction on Monday, February 9th. The stock was purchased at an average price of $152.35 per share, for a total transaction of $251,377.50. Following the acquisition, the executive vice president directly owned 19,541 shares in the company, valued at $2,977,071.35. This represents a 9.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 3,989 shares of company stock valued at $596,002 over the last ninety days. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BMI shares. Robert W. Baird set a $165.00 target price on shares of Badger Meter in a research report on Thursday, January 29th. Stifel Nicolaus set a $166.00 price target on shares of Badger Meter and gave the company a “buy” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. decreased their price objective on shares of Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, January 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $191.00 price objective (down from $229.00) on shares of Badger Meter in a research report on Thursday, January 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $167.00 target price on shares of Badger Meter in a report 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 issued a Sell rating to the company. According to data from MarketBeat.com, Badger Meter presently has an average rating of “Hold” and an average target price of $181.88.

Badger Meter Stock Performance

Shares of NYSE:BMI opened at $151.11 on Wednesday. The business’s 50-day simple moving average is $155.25 and its 200 day simple moving average is $170.60. The company has a market cap of $4.41 billion, a P/E ratio of 31.48, a PEG ratio of 2.47 and a beta of 0.87. Badger Meter, Inc. has a one year low of $139.14 and a one year high of $256.08.

Badger Meter (NYSE:BMI) last released its quarterly earnings results 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 company 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 company earned $1.04 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Dividend Announcement

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

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.