Chevy Chase Trust Holdings Inc. Buys New Position in Badger Meter, Inc. (BMI)

Chevy Chase Trust Holdings Inc. bought a new position in Badger Meter, Inc. (NYSE:BMI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,518 shares of the scientific and technical instruments company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMI. First Personal Financial Services purchased a new position in shares of Badger Meter in the 2nd quarter worth about $119,000. SG Americas Securities LLC purchased a new position in shares of Badger Meter in the 2nd quarter worth about $140,000. Pinebridge Investments L.P. boosted its holdings in shares of Badger Meter by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,836 shares of the scientific and technical instruments company’s stock worth $153,000 after buying an additional 38 shares during the last quarter. Rock Point Advisors LLC purchased a new position in shares of Badger Meter in the 3rd quarter worth about $201,000. Finally, Sei Investments Co. boosted its holdings in shares of Badger Meter by 30,007.4% in the 3rd quarter. Sei Investments Co. now owns 16,258 shares of the scientific and technical instruments company’s stock worth $203,000 after buying an additional 16,204 shares during the last quarter. Hedge funds and other institutional investors own 83.16% of the company’s stock.

In other Badger Meter news, VP Fred J. Begale sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $45.60, for a total transaction of $91,200.00. Following the sale, the vice president now directly owns 7,609 shares of the company’s stock, valued at $346,970.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Richard E. Johnson sold 7,200 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $45.55, for a total transaction of $327,960.00. Following the completion of the sale, the chief financial officer now directly owns 105,976 shares in the company, valued at $4,827,206.80. The disclosure for this sale can be found here. 4.50% of the stock is owned by corporate insiders.

A number of brokerages recently weighed in on BMI. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price target on shares of Badger Meter in a report on Thursday. Robert W. Baird reissued a “hold” rating and issued a $44.00 price target on shares of Badger Meter in a report on Tuesday, October 17th. Sidoti boosted their price target on shares of Badger Meter from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 5th. Zacks Investment Research downgraded shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $40.00 price target on shares of Badger Meter in a report on Friday, October 6th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Badger Meter currently has an average rating of “Hold” and a consensus price target of $48.50.

Shares of Badger Meter, Inc. (BMI) opened at $47.55 on Monday. The company has a market cap of $1,382.82, a PE ratio of 41.67 and a beta of 0.67. Badger Meter, Inc. has a fifty-two week low of $34.40 and a fifty-two week high of $52.10.

Badger Meter (NYSE:BMI) last released its quarterly earnings data on Monday, October 16th. The scientific and technical instruments company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.08). The business had revenue of $100.00 million for the quarter, compared to analysts’ expectations of $102.86 million. Badger Meter had a net margin of 8.39% and a return on equity of 12.62%. Badger Meter’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share. analysts predict that Badger Meter, Inc. will post 1.18 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.09%. The ex-dividend date was Wednesday, November 29th. Badger Meter’s dividend payout ratio (DPR) is presently 45.61%.

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About Badger Meter

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

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

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