14,436 Shares in Badger Meter, Inc. $BMI Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 14,436 Badger Meter shares worth approximately $2.14 million. Institutional investors collectively own 89.01% of the company.
• Analyst sentiment remains mixed, with five Buy, five Hold and one Sell rating; the consensus rating is Hold with a $164 price target, compared with the stock’s $135.68 opening price.
• Badger Meter narrowly beat quarterly EPS expectations, reporting $1.02 versus $1.01, although revenue fell 6.6% year over year. The company also raised its quarterly dividend to $0.44, implying a 1.3% annual yield.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,436 shares of the scientific and technical instruments company's stock, valued at approximately $2,142,000.

Several other large investors also recently added to or reduced their stakes in BMI. Caitong International Asset Management Co. Ltd grew its position 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 worth $26,000 after acquiring an additional 65 shares during the period. Godfrey Financial Associates Inc. purchased a new stake in Badger Meter in the fourth quarter valued at $27,000. Dunhill Financial LLC purchased a new stake in Badger Meter in the second quarter valued at $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Badger Meter in the 2nd quarter valued at $30,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Badger Meter by 62.3% in the 3rd 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 last quarter. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMI has been the subject of several research reports. Zacks Research upgraded shares of Badger Meter from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings upgraded Badger Meter from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. lowered their price target on Badger Meter from $172.00 to $170.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Seaport Research Partners set a $160.00 price objective on Badger Meter in a research note on Thursday, July 23rd. Finally, Barclays reiterated an "underweight" rating and issued a $112.00 price objective (up from $109.00) on shares of Badger Meter in a report on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $164.00.

Badger Meter Stock Down 1.8%

BMI opened at $135.68 on Friday. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 2.43 and a beta of 0.65. Badger Meter, Inc. has a 52 week low of $112.09 and a 52 week high of $204.00. The business's 50 day moving average is $137.64 and its two-hundred day moving average is $138.74.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 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 firm had revenue of $220.30 million during the quarter, compared to the consensus estimate of $220.59 million. During the same quarter in the prior year, the firm earned $1.17 EPS. Badger Meter's revenue for the quarter was down 6.6% on a year-over-year basis. Equities analysts expect that Badger Meter, Inc. will post 4.5 EPS for the current fiscal year.

Badger Meter Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a $0.44 dividend. 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 payout ratio is presently 37.38%.

Insider Activity

In other news, VP Edward F. Callahan acquired 751 shares of Badger Meter stock in a transaction that occurred on Thursday, July 30th. The stock was purchased at an average price of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

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.

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