Vulcan Value Partners LLC Purchases New Holdings in Badger Meter, Inc. $BMI

Vulcan Value Partners LLC acquired a new stake in Badger Meter, Inc. (NYSE:BMI) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 68,684 shares of the scientific and technical instruments company’s stock, valued at approximately $10,191,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its holdings in Badger Meter by 76.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock valued at $26,000 after acquiring an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. bought a new stake in Badger Meter during the 4th quarter worth about $27,000. Public Employees Retirement System of Ohio acquired a new position in Badger Meter during the 2nd quarter valued at about $27,000. Dunhill Financial LLC acquired a new position in Badger Meter during the 2nd quarter valued at about $28,000. Finally, Frazier Financial Advisors LLC bought a new position in shares of Badger Meter in the 2nd quarter valued at about $30,000. Institutional investors own 89.01% of the company’s stock.

Badger Meter Price Performance

BMI traded down $4.18 during trading on Tuesday, reaching $128.31. The company had a trading volume of 353,985 shares, compared to its average volume of 486,992. The company has a market cap of $3.72 billion, a P/E ratio of 29.98, a PEG ratio of 3.27 and a beta of 0.65. Badger Meter, Inc. has a 12 month low of $112.09 and a 12 month high of $204.00. The business’s fifty day moving average price is $137.30 and its 200 day moving average price is $137.68.

Badger Meter (NYSE:BMI) last released its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The firm had revenue of $220.30 million during the quarter, compared to analysts’ expectations of $220.59 million. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The company’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. As a group, sell-side analysts predict that Badger Meter, Inc. will post 4.5 EPS for the current fiscal year.

Badger Meter Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 28th. This is an increase from Badger Meter’s previous quarterly dividend of $0.40. Badger Meter’s dividend payout ratio (DPR) is presently 41.12%.

Insider Activity

In related news, VP Edward Callahan acquired 751 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were bought at an average price of $135.25 per share, for a total transaction of $101,572.75. Following the purchase, the vice president directly owned 1,937 shares in the company, valued at approximately $261,979.25. This trade represents a 63.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. lowered their target price on shares of Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Stifel Nicolaus set a $170.00 target price on shares of Badger Meter and gave the company a “buy” rating in a research report on Monday, July 20th. Robert W. Baird set a $167.00 price target on Badger Meter and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, Seaport Research Partners set a $160.00 price objective on Badger Meter in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Badger Meter has a consensus rating of “Hold” and a consensus price target 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.