Diversify Advisory Services LLC Buys New Position in Badger Meter, Inc. $BMI

Diversify Advisory Services LLC purchased a new position in shares of Badger Meter, Inc. (NYSE:BMI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,974 shares of the scientific and technical instruments company’s stock, valued at approximately $1,277,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC acquired a new stake in Badger Meter in the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Badger Meter by 76.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock worth $26,000 after purchasing an additional 65 shares in the last quarter. Godfrey Financial Associates Inc. acquired a new position in shares of Badger Meter during the fourth quarter worth $27,000. Dunhill Financial LLC purchased a new position in shares of Badger Meter in the second quarter valued at $28,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Badger Meter by 62.3% in the third quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Trading Up 4.0%

Shares of NYSE:BMI opened at $130.94 on Thursday. The firm has a market cap of $3.80 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 2.30 and a beta of 0.65. The company has a fifty day simple moving average of $137.52 and a 200 day simple moving average of $139.33. Badger Meter, Inc. has a 12-month low of $112.09 and a 12-month high of $204.00.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The firm had revenue of $220.30 million for the quarter, compared to the consensus estimate of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.17 EPS. As a group, equities research analysts forecast that Badger Meter, Inc. will post 4.43 EPS for the current fiscal year.

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 28th. This is a positive change from Badger Meter’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.3%. Badger Meter’s dividend payout ratio is 37.38%.

Insider Buying and Selling

In other news, VP Edward F. Callahan purchased 751 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the purchase, the vice president owned 1,937 shares of the company’s stock, valued at approximately $261,979.25. This trade represents a 63.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BMI shares. Zacks Research raised shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Robert W. Baird set a $167.00 price objective on shares of Badger Meter and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Wall Street Zen downgraded Badger Meter from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. JPMorgan Chase & Co. lowered their target price on Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Finally, Seaport Research Partners set a $160.00 target price on Badger Meter in a research report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $164.00.

About Badger Meter

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.