Badger Meter, Inc. (NYSE:BMI) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,359 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,266 shares during the period. Russell Investments Group Ltd. owned 0.11% of Badger Meter worth $6,670,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in Badger Meter during the fourth quarter worth about $28,000. Principal Securities Inc. raised its position in shares of Badger Meter by 2,457.1% during the 4th quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 172 shares during the period. Heck Capital Advisors LLC acquired a new position in Badger Meter in the fourth quarter valued at approximately $39,000. ORG Partners LLC purchased a new position in Badger Meter in the fourth quarter worth approximately $42,000. Finally, Smartleaf Asset Management LLC increased its stake in Badger Meter by 261.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 597 shares of the scientific and technical instruments company’s stock worth $128,000 after acquiring an additional 432 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Stock Up 0.7 %

Shares of BMI opened at $183.51 on Monday. Badger Meter, Inc. has a fifty-two week low of $151.50 and a fifty-two week high of $239.11. The company has a market cap of $5.40 billion, a P/E ratio of 43.38, a PEG ratio of 3.89 and a beta of 0.84. The firm’s 50 day moving average price is $201.04 and its 200 day moving average price is $211.04.

Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Friday, January 31st. The scientific and technical instruments company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. Research analysts forecast 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 was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, February 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.74%. Badger Meter’s payout ratio is 32.15%.

Insider Activity at Badger Meter

In related news, VP William R. A. Bergum sold 2,416 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $210.33, for a total value of $508,157.28. Following the transaction, the vice president now owns 14,199 shares of the company’s stock, valued at $2,986,475.67. This represents a 14.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Kenneth Bockhorst sold 1,165 shares of Badger Meter stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $212.13, for a total value of $247,131.45. Following the sale, the chief executive officer now directly owns 52,620 shares of the company’s stock, valued at $11,162,280.60. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,949 shares of company stock valued at $4,398,407 over the last 90 days. 0.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Royal Bank of Canada assumed coverage on Badger Meter in a research note on Thursday, March 27th. They issued an “outperform” rating and a $251.00 price target on the stock. Stifel Nicolaus increased their target price on shares of Badger Meter from $208.00 to $209.00 and gave the stock a “hold” rating in a research note on Monday, February 3rd. Finally, Maxim Group lifted their price target on shares of Badger Meter from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $225.20.

Badger Meter Profile

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.