47,749 Shares in Badger Meter, Inc. $BMI Acquired by Alta Capital Management LLC

Alta Capital Management LLC bought a new position in shares of Badger Meter, Inc. (NYSE:BMI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,749 shares of the scientific and technical instruments company’s stock, valued at approximately $8,328,000.

A number of other large investors have also recently made changes to their positions in BMI. N.E.W. Advisory Services LLC purchased a new stake in shares of Badger Meter during the fourth quarter worth approximately $25,000. Caitlin John LLC purchased a new stake in shares of Badger Meter during the third quarter worth approximately $31,000. Brown Brothers Harriman & Co. increased its stake in shares of Badger Meter by 62.3% during the third quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 71 shares during the period. Strategic Advocates LLC purchased a new stake in shares of Badger Meter during the third quarter worth approximately $41,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Badger Meter during the second quarter worth approximately $49,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BMI has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Badger Meter from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lowered their price target on Badger Meter from $190.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, April 17th. Jefferies Financial Group lowered their price target on Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Stifel Nicolaus lowered their price target on Badger Meter from $174.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 20th. Finally, Zacks Research raised Badger Meter from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $155.86.

Insiders Place Their Bets

In other news, CEO Kenneth Bockhorst acquired 2,200 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was acquired at an average cost of $117.53 per share, with a total value of $258,566.00. Following the completion of the acquisition, the chief executive officer owned 51,676 shares of the company’s stock, valued at $6,073,480.28. The trade was a 4.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Htwe acquired 1,700 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was purchased at an average cost of $116.13 per share, with a total value of $197,421.00. Following the completion of the acquisition, the vice president directly owned 7,603 shares of the company’s stock, valued at approximately $882,936.39. This trade represents a 28.80% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 6,628 shares of company stock valued at $777,128 and sold 3,989 shares valued at $596,002. 1.00% of the stock is owned by insiders.

Badger Meter Stock Up 3.9%

Shares of BMI opened at $118.74 on Tuesday. The stock has a 50 day moving average price of $138.85 and a 200 day moving average price of $159.23. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 2.05 and a beta of 0.68. Badger Meter, Inc. has a 52-week low of $112.09 and a 52-week high of $256.08.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter. The firm had revenue of $220.71 million during the quarter. Badger Meter had a return on equity of 18.76% and a net margin of 14.56%. On average, equities analysts anticipate that Badger Meter, Inc. will post 4.5 EPS for the current fiscal year.

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, May 22nd. Badger Meter’s dividend payout ratio is presently 36.12%.

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.