Lombard Odier Asset Management USA Corp Sells 5,715 Shares of Badger Meter, Inc. $BMI

Lombard Odier Asset Management USA Corp reduced its stake in Badger Meter, Inc. (NYSE:BMI) by 49.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,760 shares of the scientific and technical instruments company’s stock after selling 5,715 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Badger Meter were worth $1,005,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BMI. Brighton Jones LLC bought a new stake in shares of Badger Meter in the 4th quarter worth about $227,000. NewEdge Advisors LLC increased its holdings in shares of Badger Meter by 328.0% in the 1st quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company’s stock worth $717,000 after buying an additional 2,886 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Badger Meter by 10.6% in the 2nd quarter. Cetera Investment Advisers now owns 2,334 shares of the scientific and technical instruments company’s stock worth $572,000 after buying an additional 223 shares during the last quarter. M&T Bank Corp bought a new position in shares of Badger Meter during the 2nd quarter valued at approximately $200,000. Finally, California Public Employees Retirement System increased its position in shares of Badger Meter by 11.2% during the 2nd quarter. California Public Employees Retirement System now owns 50,225 shares of the scientific and technical instruments company’s stock valued at $12,303,000 after purchasing an additional 5,041 shares during the last quarter. Institutional investors own 89.01% of the company’s stock.

Insiders Place Their Bets

In other news, VP Edward F. Callahan purchased 858 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were acquired at an average price of $116.30 per share, with a total value of $99,785.40. Following the transaction, the vice president owned 1,186 shares of the company’s stock, valued at $137,931.80. This represents a 261.59% increase 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 link. Also, VP Richard Htwe purchased 1,700 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were purchased at an average cost of $116.13 per share, for a total transaction of $197,421.00. Following the transaction, the vice president directly owned 7,603 shares in the company, valued at approximately $882,936.39. This represents a 28.80% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 6,628 shares of company stock worth $777,128. 1.00% of the stock is owned by company insiders.

Badger Meter Stock Up 0.9%

Shares of Badger Meter stock opened at $135.67 on Wednesday. The stock’s fifty day moving average is $129.04 and its two-hundred day moving average is $151.37. The company has a market capitalization of $3.96 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. Badger Meter, Inc. has a 52 week low of $112.09 and a 52 week high of $251.54.

Badger Meter (NYSE:BMI) last issued its earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 EPS for the quarter. The business had revenue of $220.71 million for the quarter. Badger Meter had a net margin of 14.56% and a return on equity of 18.76%. As a group, research analysts anticipate that Badger Meter, Inc. will post 4.51 earnings per share for the current year.

Badger Meter Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, May 22nd. Badger Meter’s dividend payout ratio is currently 36.12%.

Key Stories Impacting Badger Meter

Here are the key news stories impacting Badger Meter this week:

• Negative Sentiment: Multiple firms announced or promoted a class action lawsuit against Badger Meter, increasing concerns about possible legal costs, management distraction, and reputational damage. Pomerantz Article
• Negative Sentiment: The class period and lead-plaintiff deadline reminders keep the litigation in focus, which can weigh on investor sentiment and the shares. Rosen Article
• Negative Sentiment: Additional law-firm notices suggest the lawsuit is gaining attention, reinforcing uncertainty around Badger Meter’s near-term stock performance. Bronstein Article

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BMI shares. Wall Street Zen downgraded Badger Meter from a “hold” rating to a “sell” rating in a research report on Saturday. Barclays set a $110.00 price target on shares of Badger Meter and gave the company an “underweight” rating in a report on Monday, April 20th. Stifel Nicolaus set a $140.00 price target on shares of Badger Meter in a report on Friday, May 22nd. Robert W. Baird cut their price target on shares of Badger Meter from $173.00 to $145.00 and set an “outperform” rating on the stock in a report on Monday, April 20th. Finally, Maxim Group downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $155.86.

Badger Meter Company Profile

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.