Grandeur Peak Global Advisors LLC acquired a new position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,334 shares of the scientific and technical instruments company's stock, valued at approximately $4,353,000. Badger Meter accounts for 0.9% of Grandeur Peak Global Advisors LLC's investment portfolio, making the stock its 28th biggest holding. Grandeur Peak Global Advisors LLC owned 0.10% of Badger Meter at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new position in Badger Meter during the fourth quarter valued at approximately $227,000. NewEdge Advisors LLC increased its stake in shares of Badger Meter by 328.0% in the 1st quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company's stock valued at $717,000 after purchasing an additional 2,886 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Badger Meter by 10.6% during the 2nd quarter. Cetera Investment Advisers now owns 2,334 shares of the scientific and technical instruments company's stock worth $572,000 after buying an additional 223 shares in the last quarter. M&T Bank Corp acquired a new stake in Badger Meter in the second quarter valued at about $200,000. Finally, California Public Employees Retirement System grew its position in Badger Meter by 11.2% in the second quarter. California Public Employees Retirement System now owns 50,225 shares of the scientific and technical instruments company's stock valued at $12,303,000 after acquiring an additional 5,041 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.
Badger Meter Trading Up 0.8%
NYSE BMI opened at $138.20 on Friday. The firm has a market capitalization of $4.01 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 2.46 and a beta of 0.65. The business's 50-day moving average price is $137.63 and its two-hundred day moving average price is $138.76. Badger Meter, Inc. has a 12 month low of $112.09 and a 12 month high of $204.00.
Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.01. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The company had revenue of $220.30 million for the quarter, compared to analyst estimates of $220.59 million. During the same period in the previous year, the firm earned $1.17 earnings per share. The firm's quarterly revenue was down 6.6% on a year-over-year basis. As a group, analysts forecast 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 paid a $0.44 dividend. 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%. This is an increase from Badger Meter's previous quarterly dividend of $0.40. Badger Meter's payout ratio is currently 41.12%.
Insider Buying and Selling at Badger Meter
In other news, VP Edward F. Callahan acquired 751 shares of the firm's stock in a transaction dated 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 completion of the transaction, the vice president directly owned 1,937 shares in the company, valued at $261,979.25. This represents a 63.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research firms have recently commented on BMI. Barclays reissued an "underweight" rating and issued a $112.00 target price (up from $109.00) on shares of Badger Meter in a report on Tuesday, July 28th. Stifel Nicolaus set a $170.00 price target on shares of Badger Meter and gave the stock a "buy" rating in a report on Monday, July 20th. JPMorgan Chase & Co. cut 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. Seaport Research Partners set a $160.00 target price on Badger Meter in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada reduced 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 equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $164.00.
View Our Latest Stock Report on BMI
Badger Meter Company Profile
(
Free Report)
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.
Further Reading
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