KLP Kapitalforvaltning AS Acquires New Position in Badger Meter, Inc. (NYSE:BMI)

KLP Kapitalforvaltning AS bought a new stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 31,500 shares of the scientific and technical instruments company's stock, valued at approximately $6,682,000. KLP Kapitalforvaltning AS owned approximately 0.11% of Badger Meter at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new position in Badger Meter during the fourth quarter valued at $28,000. Principal Securities Inc. lifted its stake in Badger Meter by 2,457.1% in the 4th 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 in the last quarter. Heck Capital Advisors LLC purchased a new position in Badger Meter in the 4th quarter valued at about $39,000. ORG Partners LLC acquired a new stake in Badger Meter in the 4th quarter worth about $42,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Badger Meter by 261.8% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Insider Activity

In other news, VP William R. A. Bergum sold 2,416 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $210.33, for a total value of $508,157.28. Following the sale, the vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kenneth Bockhorst sold 1,165 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $212.13, for a total transaction of $247,131.45. Following the transaction, the chief executive officer now directly owns 52,620 shares of the company's stock, valued at $11,162,280.60. The trade was a 2.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,949 shares of company stock valued at $4,398,407 in the last quarter. Insiders own 0.80% of the company's stock.

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Badger Meter Stock Performance

Shares of BMI stock traded down $3.34 on Friday, hitting $189.86. 209,717 shares of the stock traded hands, compared to its average volume of 194,477. Badger Meter, Inc. has a twelve month low of $151.18 and a twelve month high of $239.11. The stock has a market capitalization of $5.58 billion, a PE ratio of 44.88, a PEG ratio of 3.89 and a beta of 0.83. The firm's 50-day moving average price is $208.55 and its two-hundred day moving average price is $213.62.

Badger Meter (NYSE:BMI - Get Free Report) last posted its earnings results on Friday, January 31st. The scientific and technical instruments company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.03. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. On average, equities research analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.36 dividend on an annualized basis and a yield of 0.72%. Badger Meter's dividend payout ratio is currently 32.15%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Royal Bank of Canada began coverage on Badger Meter in a research note on Thursday. They issued an "outperform" rating and a $251.00 price target 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 research note on Monday, February 3rd. Finally, Maxim Group raised their target price on shares of Badger Meter from $235.00 to $245.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $225.20.

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.