Badger Meter, Inc. (NYSE:BMI) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in Badger Meter, Inc. (NYSE:BMI) by 19.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,351 shares of the scientific and technical instruments company’s stock after selling 18,107 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Badger Meter were worth $13,669,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in shares of Badger Meter by 2,633.3% in the 1st quarter. Bessemer Group Inc. now owns 492 shares of the scientific and technical instruments company’s stock worth $80,000 after acquiring an additional 474 shares in the last quarter. GAMMA Investing LLC boosted its position in Badger Meter by 46.3% during the 2nd quarter. GAMMA Investing LLC now owns 499 shares of the scientific and technical instruments company’s stock valued at $93,000 after purchasing an additional 158 shares during the period. SYSTM Wealth Solutions LLC boosted its position in Badger Meter by 9.8% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 615 shares of the scientific and technical instruments company’s stock valued at $100,000 after purchasing an additional 55 shares during the period. CWM LLC boosted its position in Badger Meter by 40.9% during the 2nd quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company’s stock valued at $107,000 after purchasing an additional 167 shares during the period. Finally, TFO Wealth Partners LLC boosted its position in Badger Meter by 91,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 916 shares of the scientific and technical instruments company’s stock valued at $154,000 after purchasing an additional 915 shares during the period. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Trading Down 1.7 %

Badger Meter stock opened at $214.92 on Thursday. The company has a market capitalization of $6.32 billion, a P/E ratio of 61.94, a P/E/G ratio of 2.99 and a beta of 0.77. The firm’s fifty day simple moving average is $201.86 and its 200-day simple moving average is $187.63. Badger Meter, Inc. has a 1-year low of $134.06 and a 1-year high of $220.25.

Badger Meter (NYSE:BMI) last posted its earnings results on Friday, July 19th. The scientific and technical instruments company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. Badger Meter had a net margin of 14.44% and a return on equity of 21.42%. The business had revenue of $216.70 million for the quarter, compared to analyst estimates of $203.39 million. During the same period last year, the business posted $0.76 EPS. Badger Meter’s revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts predict that Badger Meter, Inc. will post 4.09 earnings per share for the current year.

Badger Meter Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid a $0.34 dividend. The ex-dividend date was Friday, August 23rd. This is a positive change from Badger Meter’s previous quarterly dividend of $0.27. This represents a $1.36 dividend on an annualized basis and a yield of 0.63%. Badger Meter’s dividend payout ratio (DPR) is presently 39.19%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Badger Meter from $175.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Argus boosted their price objective on Badger Meter from $204.00 to $218.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Robert W. Baird boosted their price objective on Badger Meter from $180.00 to $184.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, StockNews.com downgraded Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $184.20.

Insider Activity at Badger Meter

In related news, VP Kimberly K. Stoll sold 1,097 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $205.00, for a total value of $224,885.00. Following the transaction, the vice president now directly owns 3,861 shares in the company, valued at approximately $791,505. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.80% of the stock is currently owned by company insiders.

Badger Meter Profile

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.