Insider Selling: Badger Meter, Inc. (BMI) Chairman Sells $1,121,724.30 in Stock

Badger Meter, Inc. (NYSE:BMI) Chairman Richard A. Meeusen sold 22,430 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $50.01, for a total transaction of $1,121,724.30. Following the sale, the chairman now owns 83,562 shares of the company’s stock, valued at approximately $4,178,935.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of NYSE:BMI opened at $50.49 on Monday. The firm has a market cap of $1.47 billion, a P/E ratio of 42.43, a price-to-earnings-growth ratio of 3.73 and a beta of 0.70. Badger Meter, Inc. has a 1-year low of $41.00 and a 1-year high of $56.40.

Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Wednesday, October 17th. The scientific and technical instruments company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.05. The firm had revenue of $110.60 million during the quarter, compared to analysts’ expectations of $109.67 million. Badger Meter had a net margin of 5.58% and a return on equity of 14.21%. Badger Meter’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. Analysts forecast that Badger Meter, Inc. will post 1.5 earnings per share for the current year.

A number of large investors have recently modified their holdings of BMI. Ellenbecker Investment Group acquired a new stake in shares of Badger Meter in the 3rd quarter worth $203,000. Amalgamated Bank acquired a new stake in shares of Badger Meter in the 2nd quarter worth $209,000. Vident Investment Advisory LLC acquired a new stake in shares of Badger Meter in the 2nd quarter worth $212,000. Carlson Capital Management acquired a new stake in shares of Badger Meter in the 3rd quarter worth $212,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Badger Meter in the 1st quarter worth $224,000. Hedge funds and other institutional investors own 85.79% of the company’s stock.

BMI has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Tuesday, October 9th. Berenberg Bank initiated coverage on shares of Badger Meter in a research note on Wednesday, October 3rd. They set a “sell” rating and a $43.00 price target for the company. Stifel Nicolaus increased their price target on shares of Badger Meter from $49.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, October 8th. Finally, Robert W. Baird reiterated a “hold” rating and set a $45.00 price target on shares of Badger Meter in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $48.00.

About Badger Meter

Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.

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