Victory Capital Management Inc. Cuts Position in Badger Meter, Inc. (NYSE:BMI)

Victory Capital Management Inc. trimmed its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 49.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 48,295 shares of the scientific and technical instruments company’s stock after selling 46,653 shares during the period. Victory Capital Management Inc. owned approximately 0.16% of Badger Meter worth $10,244,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BMI. R Squared Ltd bought a new position in Badger Meter during the 4th quarter valued at approximately $28,000. Principal Securities Inc. increased its holdings in shares of Badger Meter by 2,457.1% during the fourth quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company’s stock valued at $38,000 after acquiring an additional 172 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Badger Meter in the 4th quarter worth about $39,000. ORG Partners LLC bought a new position in Badger Meter in the 4th quarter worth about $42,000. Finally, Smartleaf Asset Management LLC grew its position in Badger Meter by 261.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 597 shares of the scientific and technical instruments company’s stock valued at $128,000 after purchasing an additional 432 shares during the last quarter. 89.01% of the stock is owned by institutional investors.

Badger Meter Stock Down 1.2 %

Shares of NYSE BMI opened at $195.30 on Friday. The firm’s 50-day moving average price is $212.28 and its 200-day moving average price is $213.85. Badger Meter, Inc. has a 52-week low of $150.87 and a 52-week high of $239.11. The company has a market cap of $5.74 billion, a PE ratio of 46.17, a PEG ratio of 3.89 and a beta of 0.83.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Friday, January 31st. The scientific and technical instruments company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. As a group, equities research analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, February 28th. Badger Meter’s dividend payout ratio is 32.15%.

Insiders Place Their Bets

In related news, VP Karen M. Bauer sold 1,147 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total value of $240,571.78. Following the transaction, the vice president now directly owns 5,076 shares of the company’s stock, valued at approximately $1,064,640.24. This trade represents a 18.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William R. A. Bergum sold 2,416 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $210.33, for a total value of $508,157.28. Following the completion of the sale, the vice president now owns 14,199 shares of the company’s stock, valued at approximately $2,986,475.67. The trade was a 14.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,949 shares of company stock valued at $4,398,407. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Badger Meter from $208.00 to $209.00 and gave the stock a “hold” rating in a report on Monday, February 3rd. Maxim Group boosted their price objective on shares of Badger Meter from $235.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $218.75.

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.