Rodgers Brothers Inc. Has $18.78 Million Stock Holdings in Badger Meter, Inc. (NYSE:BMI)

Rodgers Brothers Inc. lessened its holdings in Badger Meter, Inc. (NYSE:BMI) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,509 shares of the scientific and technical instruments company’s stock after selling 834 shares during the quarter. Badger Meter accounts for approximately 2.4% of Rodgers Brothers Inc.’s holdings, making the stock its 6th biggest holding. Rodgers Brothers Inc.’s holdings in Badger Meter were worth $18,775,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BMI. Norges Bank bought a new position in Badger Meter during the fourth quarter worth about $94,547,000. Pictet Asset Management Holding SA grew its position in Badger Meter by 5,897.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 235,322 shares of the scientific and technical instruments company’s stock valued at $49,917,000 after acquiring an additional 231,398 shares during the period. Raymond James Financial Inc. acquired a new position in Badger Meter during the fourth quarter worth $20,586,000. Congress Asset Management Co. boosted its stake in shares of 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 valued at $77,034,000 after purchasing an additional 68,137 shares in the last quarter. Finally, Perpetual Ltd bought a new stake in shares of Badger Meter in the 4th quarter worth about $10,462,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Trading Down 1.7 %

Shares of NYSE BMI opened at $189.86 on Monday. Badger Meter, Inc. has a 1-year low of $151.18 and a 1-year high of $239.11. The company has a 50-day moving average of $208.55 and a two-hundred day moving average of $213.72. The company has a market cap of $5.58 billion, a PE ratio of 44.88, a P/E/G ratio of 3.89 and a beta of 0.83.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Friday, January 31st. The scientific and technical instruments company reported $1.04 earnings per share 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%. As a group, equities research analysts forecast that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Dividend Announcement

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

Analyst Upgrades and Downgrades

BMI has been the topic of a number of recent analyst reports. Royal Bank of Canada started coverage on shares of Badger Meter in a research report on Thursday. They issued an “outperform” rating and a $251.00 price target on the stock. Maxim Group boosted their target price on Badger Meter from $235.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Stifel Nicolaus increased their price target on Badger Meter from $208.00 to $209.00 and gave the stock a “hold” rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $225.20.

Insider Buying and Selling

In related news, CEO Kenneth Bockhorst sold 1,165 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $212.13, for a total value of $247,131.45. Following the transaction, the chief executive officer now directly owns 52,620 shares in the company, valued at $11,162,280.60. This represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP William R. A. Bergum sold 148 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $212.13, for a total transaction of $31,395.24. Following the completion of the transaction, the vice president now directly owns 14,051 shares in the company, valued at approximately $2,980,638.63. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,949 shares of company stock worth $4,398,407 over the last three months. 0.80% of the stock is currently owned by company insiders.

Badger Meter 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.