Aberdeen Group plc Makes New Investment in Badger Meter, Inc. $BMI

Key Points

• Aberdeen Group plc recently acquired 113,478 shares of Badger Meter, Inc. (NYSE:BMI), valued at approximately $27.88 million, representing about 0.39% ownership in the company.
• Badger Meter reported $1.17 EPS for its latest quarter, missing estimates slightly, but achieved a 9.9% year-over-year revenue increase to $238.1 million.
• The company announced an increase in its quarterly dividend from $0.34 to $0.40 per share, with a current dividend yield of 0.9%.

Aberdeen Group plc bought a new position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 113,478 shares of the scientific and technical instruments company's stock, valued at approximately $27,884,000. Aberdeen Group plc owned approximately 0.39% of Badger Meter as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its position in Badger Meter by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 92 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in Badger Meter by 83.0% during the first quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 88 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Badger Meter in the first quarter valued at $37,000. Olde Wealth Management LLC purchased a new stake in shares of Badger Meter in the first quarter valued at $41,000. Finally, Global X Japan Co. Ltd. purchased a new position in Badger Meter during the first quarter worth about $45,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Price Performance

NYSE BMI opened at $177.47 on Tuesday. The firm has a market cap of $5.23 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 3.06 and a beta of 0.90. Badger Meter, Inc. has a one year low of $162.17 and a one year high of $256.08. The stock's 50 day simple moving average is $181.81 and its 200 day simple moving average is $209.07.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.19 by ($0.02). Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The business had revenue of $238.10 million for the quarter, compared to the consensus estimate of $235.38 million. During the same quarter last year, the company earned $1.12 earnings per share. The firm's revenue was up 9.9% on a year-over-year basis. As a group, equities analysts expect that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.60 annualized dividend and a yield of 0.9%. This is a positive change from Badger Meter's previous quarterly dividend of $0.34. Badger Meter's dividend payout ratio (DPR) is currently 34.86%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Royal Bank Of Canada dropped their price target on Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Zacks Research raised Badger Meter from a "strong sell" rating to a "hold" rating in a report on Monday, September 22nd. JPMorgan Chase & Co. assumed coverage on Badger Meter in a report on Tuesday, September 9th. They issued an "overweight" rating and a $230.00 price target for the company. Weiss Ratings lowered Badger Meter from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Finally, Robert W. Baird boosted their price objective on Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $237.00.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.

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