Badger Meter, Inc. $BMI Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 43.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 503,171 shares of the scientific and technical instruments company’s stock after buying an additional 153,213 shares during the period. JPMorgan Chase & Co.’s holdings in Badger Meter were worth $89,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. increased its stake in Badger Meter by 170.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 165 shares of the scientific and technical instruments company’s stock valued at $41,000 after purchasing an additional 104 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Badger Meter during the second quarter worth $49,000. Salomon & Ludwin LLC acquired a new stake in Badger Meter in the third quarter valued at $38,000. Employees Retirement System of Texas acquired a new stake in Badger Meter in the second quarter valued at $54,000. Finally, MAI Capital Management increased its position in shares of Badger Meter by 57.6% in the second quarter. MAI Capital Management now owns 260 shares of the scientific and technical instruments company’s stock valued at $64,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BMI. Argus lowered shares of Badger Meter from a “buy” rating to a “hold” rating in a research report on Monday, February 2nd. Barclays set a $136.00 target price on shares of Badger Meter and gave the stock an “underweight” rating in a research report on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Badger Meter in a report on Wednesday, January 21st. Jefferies Financial Group dropped their price objective on shares of Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Finally, Stifel Nicolaus set a $166.00 price objective on Badger Meter and gave the stock a “buy” rating in a research report on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Badger Meter currently has an average rating of “Hold” and a consensus price target of $181.88.

Insider Buying and Selling at Badger Meter

In other Badger Meter news, CEO Kenneth Bockhorst acquired 3,300 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were acquired at an average price of $152.42 per share, for a total transaction of $502,986.00. Following the completion of the acquisition, the chief executive officer directly owned 40,013 shares of the company’s stock, valued at $6,098,781.46. This trade represents a 8.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Robert Wrocklage bought 1,650 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was acquired at an average price of $152.35 per share, with a total value of $251,377.50. Following the completion of the purchase, the executive vice president directly owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. The trade was a 9.22% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.90% of the stock is owned by company insiders.

Badger Meter Price Performance

Badger Meter stock opened at $156.20 on Tuesday. The stock has a market capitalization of $4.56 billion, a P/E ratio of 32.54, a P/E/G ratio of 2.56 and a beta of 0.90. Badger Meter, Inc. has a 12-month low of $139.14 and a 12-month high of $256.08. The firm’s 50-day moving average is $166.92 and its two-hundred day moving average is $175.96.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). The firm had revenue of $220.71 million during the quarter, compared to analyst estimates of $232.30 million. Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.04 EPS. As a group, analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Badger Meter’s dividend payout ratio is currently 33.33%.

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.