Badger Meter, Inc. (NYSE:BMI) Sees Significant Growth in Short Interest

Badger Meter, Inc. (NYSE:BMI) saw a large increase in short interest in February. As of February 13th, there was short interest totaling 2,499,855 shares, an increase of 22.0% from the January 29th total of 2,049,730 shares. Approximately 8.6% of the company’s shares are sold short. Based on an average trading volume of 527,760 shares, the days-to-cover ratio is presently 4.7 days. Based on an average trading volume of 527,760 shares, the days-to-cover ratio is presently 4.7 days. Approximately 8.6% of the company’s shares are sold short.

Insider Buying and Selling at Badger Meter

In other Badger Meter news, CEO Kenneth Bockhorst bought 3,300 shares of Badger Meter stock in a transaction on Tuesday, February 10th. The shares were bought at an average cost of $152.42 per share, for a total transaction of $502,986.00. Following the acquisition, the chief executive officer directly owned 40,013 shares in the company, valued at $6,098,781.46. This represents a 8.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Kimberly K. Stoll sold 1,634 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $149.01, for a total value of $243,482.34. Following the sale, the vice president directly owned 3,256 shares in the company, valued at $485,176.56. This represents a 33.42% decrease in their position. 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. 0.80% of the stock is currently owned by company insiders.

Institutional Trading of Badger Meter

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC purchased a new position in shares of Badger Meter in the 4th quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Badger Meter by 76.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock worth $26,000 after purchasing an additional 65 shares during the period. Godfrey Financial Associates Inc. purchased a new position in Badger Meter in the 4th quarter valued at $27,000. Caitlin John LLC acquired a new position in Badger Meter in the 3rd quarter valued at $31,000. Finally, Brown Brothers Harriman & Co. increased its stake in Badger Meter by 62.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 71 shares during the period. 89.01% of the stock is owned by hedge funds and other institutional investors.

Badger Meter Stock Performance

NYSE BMI traded down $4.34 on Thursday, reaching $144.77. The stock had a trading volume of 159,631 shares, compared to its average volume of 424,607. The stock has a market cap of $4.22 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 2.39 and a beta of 0.87. Badger Meter has a 12-month low of $139.14 and a 12-month high of $256.08. The business’s 50-day moving average price is $162.88 and its 200 day moving average price is $174.25.

Badger Meter (NYSE:BMI) last announced its earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The business had revenue of $220.71 million during the quarter, compared to analyst estimates of $232.30 million. During the same period in the previous year, the firm earned $1.04 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Badger Meter will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.40 per share. The ex-dividend date is 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%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $167.00 price target on shares of Badger Meter in a report on Thursday, January 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Badger Meter in a research report on Wednesday, January 21st. Royal Bank Of Canada reiterated an “outperform” rating and set a $191.00 target price (down from $229.00) on shares of Badger Meter in a research note on Thursday, January 29th. Jefferies Financial Group dropped their price objective on Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Finally, Argus downgraded Badger Meter from a “buy” rating to a “hold” rating in a report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Badger Meter presently has an average rating of “Hold” and a consensus target price of $181.88.

Badger Meter Company 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.