Amundi Buys 131,016 Shares of Badger Meter, Inc. $BMI

Key Points

• Amundi increased its Badger Meter stake by 28.5% in the second quarter, adding 131,016 shares to own 590,079 shares valued at approximately $87.6 million. Institutional investors collectively hold 89.01% of the company.
• Analysts maintain a mixed outlook, with five Buy, five Hold and one Sell rating; the consensus rating is Hold with an average price target of $164, compared with shares trading at $127.52.
• Badger Meter narrowly exceeded quarterly EPS expectations at $1.02, although revenue fell 6.6% year over year. The company also raised its quarterly dividend to $0.44 per share, implying a 1.4% yield.

Amundi boosted its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 28.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 590,079 shares of the scientific and technical instruments company's stock after acquiring an additional 131,016 shares during the period. Amundi owned 2.04% of Badger Meter worth $87,595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its position in shares of 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 purchasing an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. bought a new stake in Badger Meter during the fourth quarter valued at approximately $27,000. Public Employees Retirement System of Ohio bought a new stake in Badger Meter during the second quarter valued at approximately $27,000. Brown Brothers Harriman & Co. grew its stake in 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 worth $33,000 after buying an additional 71 shares in the last quarter. Finally, Dunhill Financial LLC purchased a new position in Badger Meter in the 2nd quarter worth approximately $28,000. Institutional investors own 89.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BMI shares. Robert W. Baird set a $167.00 target price on Badger Meter and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Weiss Ratings raised Badger Meter from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 28th. Seaport Research Partners set a $160.00 price objective on Badger Meter in a report on Thursday, July 23rd. Zacks Research upgraded Badger Meter from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Barclays reissued an "underweight" rating and set a $112.00 price objective (up from $109.00) on shares of Badger Meter in a report on Tuesday, July 28th. 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.com, Badger Meter has a consensus rating of "Hold" and an average price target of $164.00.

Badger Meter Trading Down 0.9%

Shares of BMI opened at $127.52 on Thursday. Badger Meter, Inc. has a 1-year low of $112.09 and a 1-year high of $204.00. The firm's 50-day moving average price is $136.52 and its 200-day moving average price is $137.22. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 3.17 and a beta of 0.65.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings data 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 return on equity of 18.03% and a net margin of 14.27%.The business had revenue of $220.30 million during the quarter, compared to analyst estimates of $220.59 million. During the same quarter last year, the firm posted $1.17 earnings per share. The company's revenue for the quarter was down 6.6% on a year-over-year basis. On average, research analysts forecast that Badger Meter, Inc. will post 4.5 EPS for the current fiscal year.

Badger Meter Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, August 28th. This represents a $1.76 annualized dividend and a yield of 1.4%. This is a positive change from Badger Meter's previous quarterly dividend of $0.40. Badger Meter's dividend payout ratio (DPR) is 41.12%.

Insider Buying and Selling

In related news, VP Edward Callahan bought 751 shares of the stock in a transaction on Thursday, July 30th. The shares were acquired at an average price of $135.25 per share, for a total transaction of $101,572.75. Following the purchase, the vice president owned 1,937 shares of the company's stock, valued at approximately $261,979.25. The trade was a 63.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company's stock.

Badger Meter Profile

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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