Belpointe Asset Management LLC reduced its stake in shares of Badger Meter, Inc. (NYSE:BMI) by 41.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,000 shares of the scientific and technical instruments company’s stock after selling 92,000 shares during the quarter. Badger Meter makes up 1.4% of Belpointe Asset Management LLC’s holdings, making the stock its 13th largest position. Belpointe Asset Management LLC’s holdings in Badger Meter were worth $7,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bruderman Asset Management LLC purchased a new stake in shares of Badger Meter during the 4th quarter worth $50,000. Quantamental Technologies LLC lifted its stake in shares of Badger Meter by 88.7% during the 1st quarter. Quantamental Technologies LLC now owns 2,340 shares of the scientific and technical instruments company’s stock worth $130,000 after purchasing an additional 1,100 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of Badger Meter by 6.7% during the 4th quarter. Advisor Group Inc. now owns 3,026 shares of the scientific and technical instruments company’s stock worth $149,000 after purchasing an additional 189 shares during the last quarter. ETF Managers Group LLC lifted its stake in shares of Badger Meter by 10.3% during the 1st quarter. ETF Managers Group LLC now owns 3,054 shares of the scientific and technical instruments company’s stock worth $170,000 after purchasing an additional 284 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Badger Meter by 5.8% during the 4th quarter. FMR LLC now owns 3,060 shares of the scientific and technical instruments company’s stock worth $151,000 after purchasing an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 83.24% of the company’s stock.
Badger Meter stock traded down $0.22 during midday trading on Friday, reaching $56.80. The company’s stock had a trading volume of 100,853 shares, compared to its average volume of 139,141. Badger Meter, Inc. has a 52-week low of $44.10 and a 52-week high of $61.57. The stock has a market cap of $1.65 billion, a PE ratio of 36.88 and a beta of 0.77.
Badger Meter (NYSE:BMI) last released its quarterly earnings results on Wednesday, April 17th. The scientific and technical instruments company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Badger Meter had a return on equity of 16.13% and a net margin of 7.17%. The company had revenue of $104.90 million during the quarter, compared to analysts’ expectations of $111.47 million. During the same period last year, the business posted $0.30 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. Equities research analysts predict that Badger Meter, Inc. will post 1.69 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, May 30th. Badger Meter’s dividend payout ratio (DPR) is presently 38.96%.
In other Badger Meter news, VP Raymond G. Serdynski sold 6,703 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $56.53, for a total value of $378,920.59. Following the completion of the sale, the vice president now directly owns 10,045 shares in the company, valued at $567,843.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard A. Meeusen sold 8,571 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $56.85, for a total value of $487,261.35. Following the completion of the sale, the director now owns 74,582 shares of the company’s stock, valued at $4,239,986.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,883 shares of company stock valued at $1,279,032. 2.60% of the stock is currently owned by company insiders.
BMI has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on Badger Meter from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Zacks Investment Research upgraded Badger Meter from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Badger Meter presently has a consensus rating of “Hold” and an average price target of $52.60.
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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.
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