D.B. Root & Company LLC Buys New Position in Badger Meter, Inc. $BMI

D.B. Root & Company LLC bought a new stake in shares of Badger Meter, Inc. (NYSE:BMI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,236 shares of the scientific and technical instruments company’s stock, valued at approximately $629,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. N.E.W. Advisory Services LLC purchased a new stake in shares of Badger Meter during the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Badger Meter by 76.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock worth $26,000 after acquiring an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. purchased a new position in Badger Meter in the fourth quarter worth $27,000. Dunhill Financial LLC purchased a new position in Badger Meter in the second quarter worth $28,000. Finally, Frazier Financial Advisors LLC purchased a new position in Badger Meter in the second quarter worth $30,000. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Up 0.3%

Shares of NYSE:BMI opened at $132.19 on Monday. The stock has a market cap of $3.83 billion, a PE ratio of 30.89, a PEG ratio of 2.41 and a beta of 0.65. The company’s fifty day moving average is $137.48 and its 200 day moving average is $139.06. Badger Meter, Inc. has a 52 week low of $112.09 and a 52 week high of $204.00.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.01. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The business had revenue of $220.30 million during the quarter, compared to analyst estimates of $220.59 million. During the same period in the prior year, the business posted $1.17 earnings per share. The company’s revenue was down 6.6% on a year-over-year basis. Sell-side analysts anticipate that Badger Meter, Inc. will post 4.43 EPS for the current year.

Badger Meter Increases Dividend

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

Insiders Place Their Bets

In related news, VP Edward F. Callahan bought 751 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was bought at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the acquisition, the vice president directly owned 1,937 shares of the company’s stock, valued at $261,979.25. The trade was a 63.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada lowered their price target on Badger Meter from $169.00 to $162.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. Robert W. Baird set a $167.00 price objective on Badger Meter and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Stifel Nicolaus set a $170.00 price objective on Badger Meter and gave the stock a “buy” rating in a report on Monday, July 20th. JPMorgan Chase & Co. decreased their price objective on Badger Meter from $172.00 to $170.00 and set an “overweight” rating on the stock in a report 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 research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $164.00.

Badger Meter 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.