Skandinaviska Enskilda Banken AB publ Lowers Position in Badger Meter, Inc. $BMI

Skandinaviska Enskilda Banken AB publ decreased its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 13.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,473 shares of the scientific and technical instruments company’s stock after selling 3,448 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.07% of Badger Meter worth $3,835,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BMI. Cullen Frost Bankers Inc. lifted its stake in Badger Meter by 170.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 165 shares of the scientific and technical instruments company’s stock valued at $41,000 after acquiring an additional 104 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Badger Meter in the second quarter valued at about $49,000. Salomon & Ludwin LLC purchased a new position in Badger Meter during the third quarter worth about $38,000. Employees Retirement System of Texas purchased a new position in Badger Meter during the second quarter worth about $54,000. Finally, MAI Capital Management grew its position in Badger Meter by 57.6% in the 2nd quarter. MAI Capital Management now owns 260 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 89.01% of the company’s stock.

Badger Meter Trading Down 1.5%

Shares of BMI stock opened at $159.53 on Friday. The firm’s 50 day moving average is $167.47 and its 200 day moving average is $176.32. The stock has a market capitalization of $4.66 billion, a P/E ratio of 33.24, a PEG ratio of 2.60 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 issued its earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). The business had revenue of $220.71 million for the quarter, compared to the consensus estimate of $232.30 million. Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.04 EPS. On average, equities analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Dividend Announcement

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 issued 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 yield of 1.0%. Badger Meter’s dividend payout ratio is 33.33%.

Insider Activity

In related news, CEO Kenneth Bockhorst bought 3,300 shares of Badger Meter stock in a transaction on Tuesday, February 10th. The stock was acquired at an average price 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 of the company’s stock, valued at $6,098,781.46. This represents a 8.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Wrocklage purchased 1,650 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were bought at an average price of $152.35 per share, for a total transaction of $251,377.50. Following the completion of the transaction, the executive vice president owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. This trade represents a 9.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BMI shares. Barclays set a $136.00 target price on Badger Meter and gave the stock an “underweight” rating in a research note 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. 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 research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $167.00 target price on shares of Badger Meter in a research report on Thursday, January 29th. Finally, Argus downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a 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 stock. According to data from MarketBeat.com, Badger Meter presently has a consensus rating of “Hold” and an average target price 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.