Maryland State Retirement & Pension System Has $1.65 Million Stock Holdings in Badger Meter, Inc. (NYSE:BMI)

Maryland State Retirement & Pension System decreased its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 1.2% during the 4th quarter, Holdings Channel reports. The firm owned 10,666 shares of the scientific and technical instruments company’s stock after selling 133 shares during the period. Maryland State Retirement & Pension System’s holdings in Badger Meter were worth $1,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. acquired a new stake in Badger Meter in the 4th quarter valued at about $33,000. GAMMA Investing LLC bought a new position in shares of Badger Meter during the fourth quarter worth approximately $40,000. Planned Solutions Inc. acquired a new stake in Badger Meter during the 4th quarter worth approximately $45,000. AdvisorNet Financial Inc grew its holdings in Badger Meter by 8,666.7% in the 4th quarter. AdvisorNet Financial Inc now owns 526 shares of the scientific and technical instruments company’s stock valued at $81,000 after buying an additional 520 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its stake in Badger Meter by 2,392.9% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 698 shares of the scientific and technical instruments company’s stock worth $108,000 after purchasing an additional 670 shares in the last quarter. Institutional investors own 89.01% of the company’s stock.

Insider Activity at Badger Meter

In other Badger Meter news, VP William R. A. Bergum sold 1,416 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $156.23, for a total value of $221,221.68. Following the sale, the vice president now owns 13,422 shares in the company, valued at approximately $2,096,919.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Badger Meter news, VP William R. A. Bergum sold 1,416 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $156.23, for a total transaction of $221,221.68. Following the sale, the vice president now owns 13,422 shares of the company’s stock, valued at $2,096,919.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Fred J. Begale sold 1,203 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $162.92, for a total transaction of $195,992.76. Following the completion of the sale, the vice president now owns 2,181 shares in the company, valued at approximately $355,328.52. The disclosure for this sale can be found here. Insiders sold 2,813 shares of company stock worth $448,167 over the last three months. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BMI shares. Maxim Group lifted their price target on shares of Badger Meter from $190.00 to $207.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Stifel Nicolaus lifted their price objective on Badger Meter from $147.00 to $175.00 and gave the company a “hold” rating in a report on Friday, April 19th. StockNews.com raised Badger Meter from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Robert W. Baird upped their price objective on shares of Badger Meter from $151.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. Finally, Northcoast Research upgraded shares of Badger Meter from a “sell” rating to a “neutral” rating in a research report on Thursday, April 18th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Badger Meter currently has a consensus rating of “Hold” and a consensus price target of $164.80.

Badger Meter Stock Performance

Shares of BMI traded up $0.09 during trading hours on Wednesday, reaching $191.74. The stock had a trading volume of 16,553 shares, compared to its average volume of 189,222. The stock has a market capitalization of $5.64 billion, a PE ratio of 55.27, a PEG ratio of 3.12 and a beta of 0.82. Badger Meter, Inc. has a 12 month low of $134.06 and a 12 month high of $194.61. The company’s 50-day moving average is $165.25 and its two-hundred day moving average is $154.82.

Badger Meter (NYSE:BMI) last posted its earnings results on Thursday, April 18th. The scientific and technical instruments company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.82 by $0.17. The firm had revenue of $196.80 million during the quarter, compared to the consensus estimate of $182.25 million. Badger Meter had a return on equity of 20.26% and a net margin of 13.81%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. Equities analysts anticipate that Badger Meter, Inc. will post 3.89 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a $0.27 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.08 annualized dividend and a dividend yield of 0.56%. Badger Meter’s dividend payout ratio is 31.12%.

About Badger Meter

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.