Badger Meter, Inc. (NYSE:BMI) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,538 shares of the scientific and technical instruments company’s stock after selling 419 shares during the quarter. Sei Investments Co. owned 0.09% of Badger Meter worth $4,759,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Bridges Investment Management Inc. acquired a new stake in Badger Meter during the 2nd quarter valued at approximately $577,000. Canada Pension Plan Investment Board acquired a new stake in Badger Meter during the 2nd quarter valued at approximately $2,833,000. Intech Investment Management LLC acquired a new stake in Badger Meter during the 2nd quarter valued at approximately $1,032,000. Renaissance Technologies LLC lifted its holdings in Badger Meter by 47.1% during the 2nd quarter. Renaissance Technologies LLC now owns 126,100 shares of the scientific and technical instruments company’s stock worth $23,499,000 after buying an additional 40,400 shares during the last quarter. Finally, Rathbones Group PLC lifted its holdings in Badger Meter by 2.7% during the 2nd quarter. Rathbones Group PLC now owns 27,293 shares of the scientific and technical instruments company’s stock worth $5,086,000 after buying an additional 709 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Insider Activity at Badger Meter

In related news, VP Kimberly K. Stoll sold 1,097 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $205.00, for a total value of $224,885.00. Following the sale, the vice president now directly owns 3,861 shares in the company, valued at approximately $791,505. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BMI has been the topic of a number of research analyst reports. Robert W. Baird increased their target price on Badger Meter from $180.00 to $184.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Argus increased their target price on Badger Meter from $204.00 to $218.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Stifel Nicolaus increased their target price on Badger Meter from $175.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Finally, StockNews.com downgraded Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $200.25.

Badger Meter Trading Down 0.3 %

Shares of NYSE BMI opened at $217.83 on Wednesday. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 62.11, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77. Badger Meter, Inc. has a 12-month low of $134.06 and a 12-month high of $220.25. The stock’s 50 day simple moving average is $203.14 and its 200 day simple moving average is $189.15.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Friday, July 19th. The scientific and technical instruments company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. Badger Meter had a return on equity of 21.42% and a net margin of 14.44%. The business had revenue of $216.70 million for the quarter, compared to the consensus estimate of $203.39 million. During the same quarter last year, the business posted $0.76 EPS. The business’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts forecast that Badger Meter, Inc. will post 4.09 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.34 dividend. This is a boost from Badger Meter’s previous quarterly dividend of $0.27. This represents a $1.36 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Friday, August 23rd. Badger Meter’s dividend payout ratio (DPR) is currently 39.19%.

Badger Meter Company 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.