Teacher Retirement System of Texas Invests $480,000 in Badger Meter (NYSE:BMI)

Teacher Retirement System of Texas acquired a new stake in Badger Meter (NYSE:BMI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,032 shares of the scientific and technical instruments company’s stock, valued at approximately $480,000.

Several other large investors have also made changes to their positions in the company. Sei Investments Co. lifted its stake in shares of Badger Meter by 30,007.4% during the third quarter. Sei Investments Co. now owns 16,258 shares of the scientific and technical instruments company’s stock worth $203,000 after purchasing an additional 16,204 shares in the last quarter. Appleton Group LLC acquired a new position in shares of Badger Meter in the fourth quarter worth about $203,000. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Badger Meter in the third quarter worth about $221,000. Bluestein R H & Co. acquired a new position in shares of Badger Meter in the third quarter worth about $245,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Badger Meter in the third quarter worth about $267,000. 86.39% of the stock is owned by institutional investors and hedge funds.

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Several analysts have issued reports on BMI shares. Canaccord Genuity cut Badger Meter from a “hold” rating to a “sell” rating and cut their price objective for the company from $48.00 to $42.00 in a research note on Tuesday, February 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 target price on shares of Badger Meter in a report on Thursday, December 14th. Zacks Investment Research raised Badger Meter from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Thursday, January 18th. Robert W. Baird increased their price objective on Badger Meter from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Finally, ValuEngine upgraded Badger Meter from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $52.00.

Shares of BMI traded down $1.25 during mid-day trading on Friday, reaching $45.50. The company’s stock had a trading volume of 111,362 shares, compared to its average volume of 106,291. Badger Meter has a 1 year low of $35.25 and a 1 year high of $52.10. The firm has a market capitalization of $1,360.97, a P/E ratio of 39.62, a PEG ratio of 1.91 and a beta of 0.61.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Tuesday, February 6th. The scientific and technical instruments company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The business had revenue of $96.65 million for the quarter, compared to the consensus estimate of $98.08 million. Badger Meter had a net margin of 8.59% and a return on equity of 12.78%. Badger Meter’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 earnings per share. equities analysts expect that Badger Meter will post 1.6 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Tuesday, February 27th. Badger Meter’s dividend payout ratio is currently 43.70%.

In related news, VP Kimberly K. Stoll sold 1,834 shares of the stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $48.78, for a total value of $89,462.52. Following the completion of the sale, the vice president now owns 10,672 shares in the company, valued at $520,580.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gale E. Klappa sold 12,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $50.16, for a total transaction of $601,920.00. Following the completion of the sale, the director now owns 27,723 shares of the company’s stock, valued at approximately $1,390,585.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,093 shares of company stock worth $1,734,158. 2.80% of the stock is currently owned by company insiders.

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Badger Meter Company Profile

Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.

Institutional Ownership by Quarter for Badger Meter (NYSE:BMI)

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