Millstone Evans Group LLC Takes Position in Badger Meter, Inc. (NYSE:BMI)

Millstone Evans Group LLC bought a new stake in Badger Meter, Inc. (NYSE:BMI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,490 shares of the scientific and technical instruments company's stock, valued at approximately $316,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Badger Meter during the 4th quarter valued at about $20,586,000. Congress Asset Management Co. raised its stake in shares of Badger Meter by 23.1% during the fourth quarter. Congress Asset Management Co. now owns 363,164 shares of the scientific and technical instruments company's stock worth $77,034,000 after buying an additional 68,137 shares during the last quarter. Perpetual Ltd acquired a new position in Badger Meter in the fourth quarter valued at approximately $10,462,000. Barclays PLC boosted its stake in Badger Meter by 348.5% in the third quarter. Barclays PLC now owns 55,090 shares of the scientific and technical instruments company's stock valued at $12,034,000 after acquiring an additional 42,806 shares during the last quarter. Finally, Robeco Schweiz AG acquired a new position in shares of Badger Meter in the 4th quarter valued at $7,494,000. Institutional investors own 89.01% of the company's stock.

Badger Meter Stock Down 1.7 %

Shares of BMI traded down $3.38 during trading hours on Wednesday, reaching $192.37. The stock had a trading volume of 179,594 shares, compared to its average volume of 183,771. The firm has a 50-day moving average of $209.89 and a 200 day moving average of $213.80. The company has a market cap of $5.66 billion, a P/E ratio of 45.48, a P/E/G ratio of 3.89 and a beta of 0.83. Badger Meter, Inc. has a 52 week low of $151.18 and a 52 week high of $239.11.

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Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The scientific and technical instruments company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. As a group, equities analysts expect that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Friday, February 28th. Badger Meter's dividend payout ratio (DPR) is presently 32.15%.

Insider Transactions at Badger Meter

In related news, VP Karen M. Bauer sold 1,147 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $209.74, for a total transaction of $240,571.78. Following the completion of the transaction, the vice president now directly owns 5,076 shares in the company, valued at approximately $1,064,640.24. This trade represents a 18.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William R. A. Bergum sold 148 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $212.13, for a total value of $31,395.24. Following the completion of the sale, the vice president now owns 14,051 shares in the company, valued at $2,980,638.63. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,949 shares of company stock valued at $4,398,407 over the last quarter. Corporate insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BMI shares. Maxim Group lifted their price objective on Badger Meter from $235.00 to $245.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Stifel Nicolaus boosted their target price on Badger Meter from $208.00 to $209.00 and gave the stock a "hold" rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $218.75.

About Badger Meter

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.