Nuveen Asset Management LLC Has $14.77 Million Stock Position in Badger Meter, Inc. (NYSE:BMI)

Posted by Defense World Staff on Mar 7th, 2023

Nuveen Asset Management LLC lifted its stake in Badger Meter, Inc. (NYSE:BMI – Get Rating) by 42.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 159,876 shares of the scientific and technical instruments company’s stock after acquiring an additional 47,839 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.55% of Badger Meter worth $14,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. grew its stake in Badger Meter by 0.6% in the 1st quarter. BlackRock Inc. now owns 4,991,278 shares of the scientific and technical instruments company’s stock valued at $497,681,000 after buying an additional 28,050 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Badger Meter by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,415,426 shares of the scientific and technical instruments company’s stock valued at $340,552,000 after purchasing an additional 22,329 shares during the period. State Street Corp boosted its holdings in Badger Meter by 10.6% in the 2nd quarter. State Street Corp now owns 2,070,197 shares of the scientific and technical instruments company’s stock valued at $167,458,000 after purchasing an additional 198,228 shares during the period. Impax Asset Management Group plc boosted its holdings in Badger Meter by 1.6% in the 3rd quarter. Impax Asset Management Group plc now owns 1,184,861 shares of the scientific and technical instruments company’s stock valued at $108,870,000 after purchasing an additional 18,336 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Badger Meter by 8.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,010,400 shares of the scientific and technical instruments company’s stock valued at $81,732,000 after purchasing an additional 78,363 shares during the period. Institutional investors and hedge funds own 86.21% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Saturday, February 25th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $86.50.

Insider Transactions at Badger Meter

In other news, VP Kimberly K. Stoll sold 1,620 shares of Badger Meter stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $120.88, for a total transaction of $195,825.60. Following the completion of the sale, the vice president now directly owns 4,413 shares of the company’s stock, valued at approximately $533,443.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Fred J. Begale sold 385 shares of Badger Meter stock in a transaction on Monday, March 6th. The shares were sold at an average price of $119.73, for a total value of $46,096.05. Following the transaction, the vice president now owns 2,863 shares in the company, valued at approximately $342,786.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kimberly K. Stoll sold 1,620 shares of Badger Meter stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $120.88, for a total transaction of $195,825.60. Following the completion of the transaction, the vice president now owns 4,413 shares in the company, valued at approximately $533,443.44. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

Badger Meter Price Performance

Shares of NYSE:BMI opened at $119.76 on Tuesday. Badger Meter, Inc. has a one year low of $73.20 and a one year high of $124.35. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 52.76 and a beta of 0.89. The firm has a fifty day moving average price of $116.00 and a two-hundred day moving average price of $108.33.

Badger Meter (NYSE:BMI – Get Rating) last posted its quarterly earnings data on Friday, January 27th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. Badger Meter had a net margin of 11.76% and a return on equity of 15.73%. The company had revenue of $147.30 million during the quarter, compared to the consensus estimate of $142.90 million. During the same period in the previous year, the firm posted $0.59 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts expect that Badger Meter, Inc. will post 2.57 EPS for the current fiscal year.

Badger Meter Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 24th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, February 23rd. Badger Meter’s dividend payout ratio is currently 39.65%.

About Badger Meter

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Badger Meter, Inc engages in the provision of flow measurement, control products, and communications solutions that serve water utilities, municipalities, and commercial and industrial customers worldwide. Its products are classified into two categories: Municipal Water and Flow Instrumentation. Municipal water products include water meters and related technologies to municipal water utilities.