Renaissance Technologies LLC Raises Stock Holdings in Badger Meter, Inc. (NYSE:BMI)

Renaissance Technologies LLC boosted its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 55.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,100 shares of the scientific and technical instruments company's stock after purchasing an additional 42,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.40% of Badger Meter worth $24,839,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in shares of Badger Meter in the 4th quarter valued at $25,000. R Squared Ltd acquired a new position in Badger Meter during the fourth quarter worth $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 acquired a new position in Badger Meter in the 4th quarter valued at $39,000. Finally, ORG Partners LLC purchased a new position in shares of Badger Meter in the fourth quarter worth about $42,000. Institutional investors and hedge funds own 89.01% of the company's stock.

Wall Street Analyst Weigh In

BMI has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their price target on shares of Badger Meter from $209.00 to $196.00 and set a "hold" rating on the stock in a research note on Wednesday. Maxim Group boosted their price objective on Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada assumed coverage on Badger Meter in a research note on Thursday, March 27th. They issued an "outperform" rating and a $251.00 price target on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $222.60.

Insider Buying and Selling

In related news, CEO Kenneth Bockhorst sold 16,073 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 34,961 shares of the company's stock, valued at approximately $7,332,720.14. The trade was a 31.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the vice president now owns 5,076 shares of the company's stock, valued at $1,064,640.24. This represents a 18.43 % 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 worth $4,398,407 in the last ninety days. Company insiders own 0.90% of the company's stock.

Badger Meter Trading Up 9.8 %

NYSE:BMI traded up $17.96 during mid-day trading on Friday, hitting $201.86. The company's stock had a trading volume of 634,981 shares, compared to its average volume of 204,502. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 47.72, a P/E/G ratio of 3.89 and a beta of 0.84. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $239.11. The stock has a fifty day moving average of $198.84 and a 200-day moving average of $210.34.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $0.99 EPS. On average, equities analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, February 28th. Badger Meter's payout ratio is 32.15%.

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.