Rhumbline Advisers Sells 15,505 Shares of Badger Meter, Inc. $BMI

Rhumbline Advisers lowered its stake in Badger Meter, Inc. (NYSE:BMI) by 11.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,565 shares of the scientific and technical instruments company’s stock after selling 15,505 shares during the period. Rhumbline Advisers’ holdings in Badger Meter were worth $21,352,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BMI. Norges Bank acquired a new stake in Badger Meter in the 2nd quarter worth approximately $83,548,000. Westfield Capital Management Co. LP lifted its stake in shares of Badger Meter by 78.1% in the second 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 buying an additional 268,799 shares during the last quarter. Bank of America Corp DE lifted its position in Badger Meter by 108.2% during the 2nd quarter. Bank of America Corp DE now owns 342,099 shares of the scientific and technical instruments company’s stock worth $83,797,000 after acquiring an additional 177,781 shares during the last quarter. Invesco Ltd. grew its position in shares of Badger Meter by 27.1% in the second quarter. Invesco Ltd. now owns 802,166 shares of the scientific and technical instruments company’s stock valued at $196,491,000 after purchasing an additional 171,275 shares during the last quarter. Finally, Boston Trust Walden Corp increased its stake in shares of Badger Meter by 43.7% in the third quarter. Boston Trust Walden Corp now owns 330,039 shares of the scientific and technical instruments company’s stock worth $58,938,000 after purchasing an additional 100,298 shares during the period. Institutional investors and hedge funds own 89.01% of the company’s stock.

Wall Street Analyst Weigh In

BMI has been the topic of several research analyst reports. Jefferies Financial Group lowered their price objective on shares of Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $167.00 price objective on shares of Badger Meter in a research report on Thursday, January 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $191.00 target price (down from $229.00) on shares of Badger Meter in a research report on Thursday, January 29th. Robert W. Baird set a $165.00 price target on Badger Meter in a report on Thursday, January 29th. Finally, Argus cut Badger Meter from a “buy” rating to a “hold” rating in a research report on Monday, February 2nd. Four investment 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’s stock. According to MarketBeat.com, Badger Meter has an average rating of “Hold” and an average price target of $181.88.

Badger Meter Stock Down 1.9%

Badger Meter stock opened at $155.33 on Tuesday. The stock has a 50-day simple moving average of $169.11 and a 200 day simple moving average of $176.89. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 2.49 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 posted its quarterly earnings data on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share 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 company had revenue of $220.71 million during the quarter, compared to analyst estimates of $232.30 million. During the same quarter in the previous year, the business posted $1.04 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Announces Dividend

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

Insider Transactions at Badger Meter

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 purchase, the executive vice president directly owned 19,541 shares of the company’s stock, valued at $2,977,071.35. The trade was a 9.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth Bockhorst purchased 3,300 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was purchased at an average cost of $152.42 per share, with a total value 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 trade represents a 8.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.90% of the company’s stock.

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.