68,684 Shares in Badger Meter, Inc. $BMI Bought by Vulcan Value Partners LLC

Key Points

• Vulcan Value Partners acquired 68,684 Badger Meter shares worth approximately $10.2 million, giving it a 0.24% stake. Institutional investors collectively owned 89.01% of the company.
• Badger Meter reported quarterly EPS of $1.02, slightly above estimates, but revenue fell 6.6% year over year to $220.3 million. Shares recently traded at $128.31, well below the analyst consensus price target of $164.
• The company raised its quarterly dividend to $0.44 per share, equivalent to an annualized $1.76 payout and a 1.4% yield. Analysts maintain a consensus “Hold” rating.

Vulcan Value Partners LLC purchased a new stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 68,684 shares of the scientific and technical instruments company's stock, valued at approximately $10,191,000. Vulcan Value Partners LLC owned 0.24% of Badger Meter at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. XXEC Inc. acquired a new stake in Badger Meter in the 2nd quarter valued at approximately $825,029,000. California State Teachers Retirement System grew its stake in shares of Badger Meter by 14,467.6% in the second quarter. California State Teachers Retirement System now owns 4,980,820 shares of the scientific and technical instruments company's stock worth $739,054,000 after acquiring an additional 4,946,629 shares during the last quarter. BlackRock Inc. bought a new position in Badger Meter during the second quarter worth $725,926,000. State Street Corp raised its stake in Badger Meter by 1.4% during the 2nd quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company's stock valued at $358,315,000 after purchasing an additional 20,122 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Badger Meter by 20.9% in the 3rd quarter. Invesco Ltd. now owns 970,219 shares of the scientific and technical instruments company's stock valued at $173,262,000 after purchasing an additional 168,053 shares during the period. Institutional investors and hedge funds own 89.01% of the company's stock.

Badger Meter Price Performance

Shares of BMI traded down $4.18 during trading hours on Tuesday, hitting $128.31. The stock had a trading volume of 353,985 shares, compared to its average volume of 486,992. The company's fifty day moving average is $137.30 and its two-hundred day moving average is $137.68. Badger Meter, Inc. has a 52 week low of $112.09 and a 52 week high of $204.00. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 3.27 and a beta of 0.65.

Badger Meter (NYSE:BMI - Get Free Report) last announced 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. The firm had revenue of $220.30 million during the quarter, compared to the consensus estimate of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The firm's quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm posted $1.17 EPS. Equities 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. Investors of record on Friday, August 28th will be given a dividend of $0.44 per share. This is a boost from Badger Meter's previous quarterly dividend of $0.40. The ex-dividend date is Friday, August 28th. This represents a $1.76 dividend on an annualized basis and a yield of 1.4%. Badger Meter's dividend payout ratio is currently 41.12%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price objective on shares of Badger Meter from $169.00 to $162.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Robert W. Baird set a $167.00 price target on Badger Meter and gave the company an "outperform" rating in a report on Thursday, July 23rd. Zacks Research raised Badger Meter from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Wall Street Zen upgraded Badger Meter from a "sell" rating to a "hold" rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings upgraded shares of Badger Meter from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 28th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $164.00.

Insiders Place Their Bets

In other Badger Meter news, VP Edward Callahan acquired 751 shares of the business's stock in a transaction 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 transaction, the vice president owned 1,937 shares in the company, valued at $261,979.25. This trade represents a 63.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate 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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