Raiffeisen Bank International AG Acquires New Holdings in Badger Meter, Inc. $BMI

Raiffeisen Bank International AG bought a new position in Badger Meter, Inc. (NYSE:BMI) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,000 shares of the scientific and technical instruments company’s stock, valued at approximately $885,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. purchased a new position in shares of Badger Meter in the 3rd quarter worth $14,329,000. Synovus Financial Corp lifted its holdings in Badger Meter by 26.5% in the third quarter. Synovus Financial Corp now owns 2,380 shares of the scientific and technical instruments company’s stock valued at $425,000 after acquiring an additional 499 shares during the period. Vanguard Group Inc. lifted its holdings in Badger Meter by 3.8% in the third quarter. Vanguard Group Inc. now owns 3,960,308 shares of the scientific and technical instruments company’s stock valued at $707,232,000 after acquiring an additional 145,389 shares during the period. JPMorgan Chase & Co. boosted its position in Badger Meter by 43.8% in the third quarter. JPMorgan Chase & Co. now owns 503,171 shares of the scientific and technical instruments company’s stock worth $89,856,000 after purchasing an additional 153,213 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Badger Meter by 23.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 11,595 shares of the scientific and technical instruments company’s stock valued at $2,071,000 after purchasing an additional 2,214 shares during the period. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on BMI. Jefferies Financial Group reduced their price target on shares of Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. JPMorgan Chase & Co. cut their target price on shares of Badger Meter from $232.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, January 29th. Argus cut shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Monday, February 2nd. Zacks Research cut shares of Badger Meter from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $191.00 price objective (down previously from $229.00) on shares of Badger Meter 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $181.88.

Badger Meter Price Performance

Shares of NYSE:BMI opened at $159.53 on Monday. The company has a market capitalization of $4.66 billion, a P/E ratio of 33.24, a P/E/G ratio of 2.56 and a beta of 0.90. Badger Meter, Inc. has a 1-year low of $139.14 and a 1-year high of $256.08. The firm’s 50 day simple moving average is $167.47 and its two-hundred day simple moving average is $176.19.

Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) 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 analysts’ expectations of $232.30 million. Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the company earned $1.04 earnings per share. On average, sell-side analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal 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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. Badger Meter’s dividend payout ratio (DPR) is currently 33.33%.

Insider Transactions at Badger Meter

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

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.