204,736 Shares in Badger Meter, Inc. $BMI Bought by XXEC Inc.

Key Points

• XXEC Inc. acquired 204,736 Badger Meter shares worth approximately $26.0 million, giving it about a 0.71% stake. Institutional investors and hedge funds collectively own 89.01% of the company.
• Badger Meter’s latest quarterly earnings slightly exceeded expectations, with EPS of $1.02 versus the $1.01 consensus, though revenue fell 6.6% year over year to $220.3 million.
• The company raised its quarterly dividend to $0.44, or $1.76 annually, representing a 1.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $164, above the reported $138.20 share price.

XXEC Inc. bought a new stake in Badger Meter, Inc. (NYSE:BMI - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 204,736 shares of the scientific and technical instruments company's stock, valued at approximately $26,030,000. Badger Meter comprises 0.0% of XXEC Inc.'s holdings, making the stock its 19th biggest holding. XXEC Inc. owned approximately 0.71% of Badger Meter as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BMI. Caitong International Asset Management Co. Ltd increased its holdings in shares of Badger Meter by 76.5% in 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 period. Godfrey Financial Associates Inc. acquired a new position in Badger Meter during the 4th 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. Frazier Financial Advisors LLC bought a new position in Badger Meter in the 2nd quarter worth about $30,000. Finally, Brown Brothers Harriman & Co. increased 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. Institutional investors and hedge funds own 89.01% of the company's stock.

Insiders Place Their Bets

In other news, VP Edward F. Callahan bought 751 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average price of $135.25 per share, with a total value of $101,572.75. Following the completion of the purchase, the vice president directly owned 1,937 shares of the company's stock, valued at $261,979.25. This represents a 63.32% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Badger Meter Price Performance

NYSE BMI opened at $138.20 on Friday. Badger Meter, Inc. has a 12 month low of $112.09 and a 12 month high of $204.00. The firm has a market capitalization of $4.01 billion, a PE ratio of 32.29, a P/E/G ratio of 2.46 and a beta of 0.65. The company's 50 day simple moving average is $137.63 and its 200 day simple moving average is $138.76.

Badger Meter (NYSE:BMI - Get Free Report) last released its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share 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 the consensus estimate of $220.59 million. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.17 earnings per share. Sell-side analysts anticipate that Badger Meter, Inc. will post 4.5 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

The company also recently disclosed 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. This represents a $1.76 annualized dividend and a dividend yield of 1.3%. This is a positive change from Badger Meter's previous quarterly dividend of $0.40. The ex-dividend date is Friday, August 28th. Badger Meter's payout ratio is currently 41.12%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BMI shares. Robert W. Baird set a $167.00 price objective on Badger Meter and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. cut their target price on Badger Meter from $172.00 to $170.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings upgraded Badger Meter from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 28th. Zacks Research raised Badger Meter from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Finally, 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 report on Thursday, July 23rd. Five investment 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 MarketBeat, the stock has a consensus rating of "Hold" and an average 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.

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