Norges Bank Takes $94.55 Million Position in Badger Meter, Inc. (NYSE:BMI)

Norges Bank bought a new stake in Badger Meter, Inc. (NYSE:BMI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 445,723 shares of the scientific and technical instruments company’s stock, valued at approximately $94,547,000. Norges Bank owned about 1.52% of Badger Meter at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Badger Meter by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 350,378 shares of the scientific and technical instruments company’s stock valued at $74,322,000 after acquiring an additional 12,180 shares during the last quarter. Burney Co. purchased a new position in Badger Meter during the fourth quarter worth approximately $385,000. Van ECK Associates Corp boosted its holdings in shares of Badger Meter by 68.1% in the 4th quarter. Van ECK Associates Corp now owns 33,395 shares of the scientific and technical instruments company’s stock valued at $7,083,000 after purchasing an additional 13,526 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Badger Meter by 29.0% during the 3rd quarter. Stifel Financial Corp now owns 11,971 shares of the scientific and technical instruments company’s stock valued at $2,615,000 after buying an additional 2,692 shares during the period. Finally, Fortress Financial Solutions LLC acquired a new stake in shares of Badger Meter during the 4th quarter worth $369,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Stock Performance

Badger Meter stock opened at $192.84 on Wednesday. The firm has a market capitalization of $5.67 billion, a PE ratio of 45.59, a price-to-earnings-growth ratio of 3.89 and a beta of 0.83. Badger Meter, Inc. has a one year low of $151.18 and a one year high of $239.11. The stock’s 50 day moving average price is $207.52 and its 200 day moving average price is $213.51.

Badger Meter (NYSE:BMI) last posted its earnings results on Friday, January 31st. The scientific and technical instruments company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. On average, analysts forecast that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, February 28th. Badger Meter’s payout ratio is 32.15%.

Insider Buying and Selling

In related news, VP William R. A. Bergum sold 2,416 shares of Badger Meter stock in a transaction on Friday, February 28th. The shares were sold at an average price of $210.33, for a total value of $508,157.28. Following the completion of the sale, the vice president now owns 14,199 shares in the company, valued at approximately $2,986,475.67. The trade was a 14.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Karen M. Bauer sold 1,147 shares of the stock in a transaction on Wednesday, March 5th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,949 shares of company stock worth $4,398,407. 0.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BMI shares. Stifel Nicolaus boosted their price target on Badger Meter from $208.00 to $209.00 and gave the company a “hold” rating in a research report on Monday, February 3rd. Royal Bank of Canada started coverage on Badger Meter in a report on Thursday, March 27th. They set an “outperform” rating and a $251.00 target price for the company. Finally, Maxim Group raised their price target on shares of Badger Meter from $235.00 to $245.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $225.20.

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.