Badger Meter, Inc. (NYSE:BMI) is Farrow Financial Inc.’s 10th Largest Position

Farrow Financial Inc. lessened its stake in Badger Meter, Inc. (NYSE:BMI) by 3.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,022 shares of the scientific and technical instruments company’s stock after selling 727 shares during the quarter. Badger Meter makes up about 2.6% of Farrow Financial Inc.’s portfolio, making the stock its 10th biggest holding. Farrow Financial Inc. owned 0.06% of Badger Meter worth $4,075,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMI. Raymond James Financial Inc. purchased a new stake in Badger Meter in the 4th quarter worth $20,586,000. Congress Asset Management Co. increased its holdings in Badger Meter by 23.1% in the 4th quarter. Congress Asset Management Co. now owns 363,164 shares of the scientific and technical instruments company’s stock worth $77,034,000 after acquiring an additional 68,137 shares in the last quarter. Perpetual Ltd purchased a new stake in Badger Meter in the 4th quarter worth $10,462,000. Barclays PLC increased its holdings in Badger Meter by 348.5% in the 3rd quarter. Barclays PLC now owns 55,090 shares of the scientific and technical instruments company’s stock worth $12,034,000 after acquiring an additional 42,806 shares in the last quarter. Finally, Robeco Schweiz AG purchased a new stake in shares of Badger Meter during the fourth quarter worth $7,494,000. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Trading Up 1.7 %

Shares of BMI opened at $212.68 on Friday. Badger Meter, Inc. has a 12-month low of $150.87 and a 12-month high of $239.11. The firm has a market capitalization of $6.26 billion, a P/E ratio of 50.28, a P/E/G ratio of 3.89 and a beta of 0.83. The firm has a 50-day moving average price of $213.09 and a 200 day moving average price of $213.96.

Badger Meter (NYSE:BMI) last released its quarterly earnings data on Friday, January 31st. The scientific and technical instruments company reported $1.04 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, February 28th. Badger Meter’s payout ratio is currently 32.15%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Badger Meter from $208.00 to $209.00 and gave the stock a “hold” rating in a report on Monday, February 3rd. Maxim Group upped their target price on shares of Badger Meter from $235.00 to $245.00 and gave the stock a “buy” rating in a report 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $218.75.

Insider Buying and Selling

In other Badger Meter news, VP William R. A. Bergum sold 2,416 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $210.33, for a total transaction of $508,157.28. Following the completion of the transaction, the vice president now owns 14,199 shares of the company’s stock, valued at $2,986,475.67. This trade represents a 14.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kenneth Bockhorst sold 16,073 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 $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. This trade represents a 31.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,949 shares of company stock worth $4,398,407. Insiders own 0.80% of the company’s stock.

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.