Cetera Investment Advisers Sells 156 Shares of Badger Meter, Inc. (NYSE:BMI)

Cetera Investment Advisers lessened its stake in Badger Meter, Inc. (NYSE:BMI) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,651 shares of the scientific and technical instruments company’s stock after selling 156 shares during the quarter. Cetera Investment Advisers’ holdings in Badger Meter were worth $1,199,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in Badger Meter in the 4th quarter valued at approximately $94,547,000. Pictet Asset Management Holding SA grew its stake in Badger Meter by 5,897.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 235,322 shares of the scientific and technical instruments company’s stock valued at $49,917,000 after buying an additional 231,398 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Badger Meter by 184.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 256,217 shares of the scientific and technical instruments company’s stock valued at $54,350,000 after buying an additional 166,191 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Badger Meter in the 4th quarter valued at approximately $20,586,000. Finally, Ameriprise Financial Inc. grew its stake in Badger Meter by 111.1% in the 4th quarter. Ameriprise Financial Inc. now owns 182,382 shares of the scientific and technical instruments company’s stock valued at $38,687,000 after buying an additional 95,966 shares in the last quarter. Institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Performance

Badger Meter stock opened at $243.76 on Friday. The stock has a market cap of $7.18 billion, a P/E ratio of 57.63, a PEG ratio of 3.89 and a beta of 0.83. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $249.65. The firm’s fifty day moving average price is $207.70 and its 200-day moving average price is $212.91.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.22. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. The firm had revenue of $222.21 million for the quarter, compared to analysts’ expectations of $220.39 million. During the same quarter in the prior year, the firm posted $0.99 earnings per share. Sell-side analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.34 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.36 annualized dividend and a yield of 0.56%. Badger Meter’s dividend payout ratio (DPR) is presently 29.96%.

Insider Buying and Selling

In related news, VP Karen M. Bauer sold 1,147 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $209.74, for a total value of $240,571.78. Following the completion of the transaction, the vice president now directly owns 5,076 shares in the company, valued at approximately $1,064,640.24. The trade was a 18.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William R. A. Bergum sold 2,416 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $210.33, for a total transaction of $508,157.28. Following the completion of the transaction, the vice president now owns 14,199 shares of the company’s stock, valued at $2,986,475.67. This trade represents a 14.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,949 shares of company stock worth $4,398,407. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on BMI shares. Royal Bank of Canada lifted their price objective on shares of Badger Meter from $238.00 to $252.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Stifel Nicolaus reduced their price objective on shares of Badger Meter from $209.00 to $196.00 and set a “hold” rating for the company in a research note on Wednesday, April 16th. Argus set a $240.00 price objective on shares of Badger Meter in a research note on Thursday, April 24th. Maxim Group upped their price target on shares of Badger Meter from $235.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Robert W. Baird decreased their price target on shares of Badger Meter from $218.00 to $216.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $229.80.

Badger Meter Company 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.