Envestnet Asset Management Inc. Lowers Position in Badger Meter, Inc. (NYSE:BMI)

Envestnet Asset Management Inc. trimmed its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,267 shares of the scientific and technical instruments company's stock after selling 6,562 shares during the period. Envestnet Asset Management Inc. owned about 0.23% of Badger Meter worth $14,269,000 as of its most recent filing with the Securities and Exchange Commission.

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 in the 4th quarter valued at about $28,000. Principal Securities Inc. boosted its position 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 buying an additional 172 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Badger Meter during the fourth quarter worth $39,000. ORG Partners LLC bought a new stake in Badger Meter during the fourth quarter worth $42,000. Finally, Smartleaf Asset Management LLC lifted its stake 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 acquiring an additional 432 shares in the last quarter. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMI has been the subject of several analyst reports. Robert W. Baird lowered their target price on shares of Badger Meter from $218.00 to $216.00 and set a "neutral" rating for the company in a report on Monday. Stifel Nicolaus dropped their target price on shares of Badger Meter from $209.00 to $196.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Maxim Group increased their price target on Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada boosted their price objective on Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $225.40.

Insider Transactions at Badger Meter

In other news, CEO Kenneth Bockhorst sold 16,073 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $209.74, for a total value of $3,371,151.02. Following the completion of the transaction, the chief executive officer now directly owns 34,961 shares in the company, valued at approximately $7,332,720.14. This trade represents a 31.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Karen M. Bauer sold 1,147 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 5,076 shares in the company, valued at $1,064,640.24. This represents a 18.43 % decrease in their ownership of the stock. 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 three months. Company insiders own 0.80% of the company's stock.

Badger Meter Stock Performance

NYSE:BMI traded up $8.67 during trading hours on Tuesday, reaching $208.49. The stock had a trading volume of 318,878 shares, compared to its average volume of 202,129. The stock has a market cap of $6.13 billion, a P/E ratio of 49.29, a price-to-earnings-growth ratio of 3.89 and a beta of 0.84. The stock has a 50 day simple moving average of $198.05 and a 200 day simple moving average of $209.93. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $239.11.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.22. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. The business had revenue of $222.21 million for the quarter, compared to analysts' expectations of $220.39 million. During the same period in the previous year, the business posted $0.99 EPS. On average, equities analysts expect that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.36 annualized dividend and a dividend yield of 0.65%. Badger Meter's dividend payout ratio is currently 29.96%.

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.