First Trust Advisors LP Has $46.66 Million Stock Holdings in Badger Meter, Inc. $BMI

by · The Markets Daily

First Trust Advisors LP increased its holdings in shares of Badger Meter, Inc. (NYSE:BMI – Free Report) by 31.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,291 shares of the scientific and technical instruments company’s stock after buying an additional 61,991 shares during the quarter. First Trust Advisors LP owned 0.89% of Badger Meter worth $46,661,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Journey Strategic Wealth LLC increased its holdings in shares of Badger Meter by 4.6% in the 2nd quarter. Journey Strategic Wealth LLC now owns 1,296 shares of the scientific and technical instruments company’s stock valued at $317,000 after purchasing an additional 57 shares during the period. Global X Japan Co. Ltd. grew its position in Badger Meter by 27.3% during the third quarter. Global X Japan Co. Ltd. now owns 266 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 57 shares in the last quarter. Alliance Wealth Advisors LLC UT grew its position in Badger Meter by 2.4% during the third quarter. Alliance Wealth Advisors LLC UT now owns 3,589 shares of the scientific and technical instruments company’s stock valued at $641,000 after purchasing an additional 83 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Badger Meter by 0.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 9,834 shares of the scientific and technical instruments company’s stock worth $2,409,000 after buying an additional 85 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Badger Meter by 6.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,372 shares of the scientific and technical instruments company’s stock worth $245,000 after buying an additional 85 shares in the last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Kimberly K. Stoll sold 1,634 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $149.01, for a total transaction of $243,482.34. Following the sale, the vice president owned 3,256 shares of the company’s stock, valued at approximately $485,176.56. This trade represents a 33.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert Wrocklage bought 1,650 shares of Badger Meter stock in a transaction on Monday, February 9th. The shares were acquired at an average price of $152.35 per share, for a total transaction of $251,377.50. Following the completion of the acquisition, the executive vice president owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. This represents a 9.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 3,989 shares of company stock worth $596,002 in the last 90 days. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BMI. Robert W. Baird set a $165.00 target price on Badger Meter in a research report on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Badger Meter in a research report on Wednesday, January 21st. Barclays set a $136.00 target price on Badger Meter and gave the stock an “underweight” rating in a research report on Thursday, January 29th. Zacks Research lowered shares of Badger Meter from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Finally, Stifel Nicolaus set a $166.00 target price on shares of Badger Meter and gave the company a “buy” rating in a research note on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Badger Meter presently has a consensus rating of “Hold” and a consensus price target of $181.88.

View Our Latest Report on Badger Meter

Badger Meter Trading Down 0.2%

NYSE BMI opened at $146.89 on Thursday. Badger Meter, Inc. has a 12 month low of $139.14 and a 12 month high of $256.08. The stock has a 50-day simple moving average of $159.74 and a 200 day simple moving average of $172.88. The company has a market capitalization of $4.29 billion, a PE ratio of 30.60, a P/E/G ratio of 2.36 and a beta of 0.87.

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

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a $0.40 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Badger Meter’s dividend payout ratio is currently 33.33%.

Badger Meter Profile

(Free Report)

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.

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