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

Renaissance Technologies LLC increased its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 55.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,100 shares of the scientific and technical instruments company’s stock after buying an additional 42,000 shares during the quarter. Renaissance Technologies LLC owned 0.40% of Badger Meter worth $24,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new stake in Badger Meter in the fourth quarter worth about $25,000. R Squared Ltd acquired a new stake in Badger Meter in the 4th quarter worth approximately $28,000. Principal Securities Inc. boosted 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 worth $38,000 after purchasing an additional 172 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Badger Meter during the 4th quarter worth approximately $39,000. Finally, ORG Partners LLC acquired a new position in Badger Meter during the 4th quarter valued at approximately $42,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Badger Meter

In other news, 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 transaction, the vice president now owns 5,076 shares in the company, valued at $1,064,640.24. This trade represents a 18.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP William R. A. Bergum sold 148 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $212.13, for a total transaction of $31,395.24. Following the completion of the sale, the vice president now directly owns 14,051 shares of the company’s stock, valued at approximately $2,980,638.63. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,949 shares of company stock worth $4,398,407. 0.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on BMI. Stifel Nicolaus lifted their price objective 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. Royal Bank of Canada started coverage on Badger Meter in a research report on Thursday, March 27th. They set an “outperform” rating and a $251.00 price target for the company. Finally, Maxim Group increased their price objective on Badger Meter from $235.00 to $245.00 and gave the company a “buy” rating in a 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $225.20.

Badger Meter Stock Up 0.7 %

Shares of BMI stock opened at $183.51 on Friday. Badger Meter, Inc. has a 52-week low of $151.50 and a 52-week high of $239.11. The stock has a market cap of $5.40 billion, a PE ratio of 43.38, a price-to-earnings-growth ratio of 3.89 and a beta of 0.84. The business has a 50-day simple moving average of $201.04 and a 200-day simple moving average of $211.07.

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

Badger Meter Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.34 per share. The ex-dividend date was Friday, February 28th. This represents a $1.36 annualized dividend and a yield of 0.74%. Badger Meter’s dividend payout ratio is presently 32.15%.

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.