Cibc World Markets Corp Makes New $583,000 Investment in Badger Meter, Inc. (NYSE:BMI)

Cibc World Markets Corp purchased a new position in Badger Meter, Inc. (NYSE:BMI) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,750 shares of the scientific and technical instruments company’s stock, valued at approximately $583,000.

Several other institutional investors also recently added to or reduced their stakes in BMI. Raymond James Financial Inc. bought a new stake in shares of Badger Meter during the fourth quarter valued at approximately $20,586,000. Congress Asset Management Co. increased its position in shares of Badger Meter by 23.1% during the fourth quarter. Congress Asset Management Co. now owns 363,164 shares of the scientific and technical instruments company’s stock valued at $77,034,000 after purchasing an additional 68,137 shares during the period. Perpetual Ltd bought a new stake in shares of Badger Meter during the fourth quarter valued at approximately $10,462,000. Barclays PLC increased its position in shares of Badger Meter by 348.5% during the third quarter. Barclays PLC now owns 55,090 shares of the scientific and technical instruments company’s stock valued at $12,034,000 after purchasing an additional 42,806 shares during the period. Finally, Robeco Schweiz AG bought a new stake in shares of Badger Meter during the fourth quarter valued at approximately $7,494,000. 89.01% of the stock is owned by institutional investors.

Badger Meter Price Performance

Shares of BMI stock opened at $189.36 on Friday. The stock’s fifty day simple moving average is $210.42 and its 200 day simple moving average is $213.62. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 44.77, a P/E/G 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.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Friday, January 31st. The scientific and technical instruments company reported $1.04 EPS for the quarter, beating 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%. On average, research analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Friday, February 28th. Badger Meter’s dividend payout ratio is currently 32.15%.

Insiders Place Their Bets

In other Badger Meter news, 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 value of $31,395.24. Following the transaction, the vice president now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth Bockhorst sold 1,165 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 value of $247,131.45. Following the completion of the transaction, the chief executive officer now directly owns 52,620 shares in the company, valued at approximately $11,162,280.60. This represents a 2.17 % 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 valued at $4,398,407. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BMI shares. Stifel Nicolaus boosted their price objective on Badger Meter from $208.00 to $209.00 and gave the company a “hold” rating in a research report on Monday, February 3rd. Maxim Group boosted their price objective on Badger Meter from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $218.75.

Badger Meter Company 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.