Assenagon Asset Management S.A. Sells 4,414 Shares of Badger Meter, Inc. $BMI

Assenagon Asset Management S.A. decreased its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 23.0% in the 1st quarter, Holdings Channel reports. The firm owned 14,756 shares of the scientific and technical instruments company’s stock after selling 4,414 shares during the period. Assenagon Asset Management S.A.’s holdings in Badger Meter were worth $2,248,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Badger Meter by 154.7% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,922 shares of the scientific and technical instruments company’s stock worth $3,022,000 after acquiring an additional 10,277 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Badger Meter by 14.1% during the fourth quarter. Bessemer Group Inc. now owns 166,407 shares of the scientific and technical instruments company’s stock worth $29,023,000 after purchasing an additional 20,624 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Badger Meter in the 4th quarter worth approximately $2,126,000. Capital Innovations LLC purchased a new position in Badger Meter during the 4th quarter valued at $6,867,000. Finally, Tudor Investment Corp ET AL increased its position in shares of Badger Meter by 67.0% during the third quarter. Tudor Investment Corp ET AL now owns 106,927 shares of the scientific and technical instruments company’s stock valued at $19,095,000 after buying an additional 42,891 shares during the period. Institutional investors own 89.01% of the company’s stock.

Key Badger Meter News

Here are the key news stories impacting Badger Meter this week:

• Negative Sentiment: Multiple law firms issued reminders and investor alerts about the ongoing class action, increasing legal overhang and uncertainty for BMI shareholders. Article Title
• Negative Sentiment: The core allegations in the lawsuit may weigh on sentiment, including claims that Badger Meter misled investors about demand strength and near-term order trends. Article Title
• Negative Sentiment: One law firm specifically pointed to allegations that prior guidance of “high single-digit” growth was followed by a 9% revenue decline, which could reinforce concerns about execution and reporting credibility. Article Title

Badger Meter Stock Performance

NYSE:BMI opened at $148.66 on Wednesday. The stock’s fifty day moving average is $126.04 and its 200 day moving average is $148.55. Badger Meter, Inc. has a fifty-two week low of $112.09 and a fifty-two week high of $249.56. The firm has a market capitalization of $4.34 billion, a PE ratio of 33.56, a PEG ratio of 2.49 and a beta of 0.68.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 EPS for the quarter. Badger Meter had a net margin of 14.56% and a return on equity of 18.76%. The company had revenue of $220.71 million during the quarter. Equities analysts forecast that Badger Meter, Inc. will post 4.51 EPS for the current year.

Badger Meter Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Badger Meter’s payout ratio is currently 36.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BMI shares. Robert W. Baird lowered their price target on Badger Meter from $173.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, April 20th. Weiss Ratings cut Badger Meter from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Stifel Nicolaus set a $140.00 price target on shares of Badger Meter in a research report on Friday, May 22nd. Barclays set a $110.00 target price on Badger Meter and gave the stock an “underweight” rating in a research report on Monday, April 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Badger Meter in a report on Thursday, May 21st. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $155.86.

Insider Buying and Selling

In other news, CEO Kenneth Bockhorst acquired 2,200 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was acquired at an average price of $117.53 per share, with a total value of $258,566.00. Following the completion of the purchase, the chief executive officer directly owned 51,676 shares in the company, valued at approximately $6,073,480.28. This trade represents a 4.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christina M. Tarantino bought 870 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were acquired at an average price of $113.80 per share, with a total value of $99,006.00. Following the transaction, the vice president directly owned 1,801 shares of the company’s stock, valued at approximately $204,953.80. This trade represents a 93.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 6,628 shares of company stock worth $777,128 over the last three months. 1.00% of the stock is currently 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.