Badger Meter, Inc. $BMI Shares Acquired by Copeland Capital Management LLC

Key Points

• Copeland Capital Management increased its Badger Meter stake by 35.2% in the third quarter, adding 67,258 shares to own 258,164 shares valued at approximately $31.9 million. Institutional investors collectively hold 89.01% of the company.
• Analyst sentiment is mixed, with six Buy, five Hold, and one Sell rating; the consensus rating is Hold with an average price target of $161.88, compared with the stock’s recent price of $130.98.
• Badger Meter slightly exceeded quarterly EPS estimates, reporting $1.02 versus $1.01 expected, though revenue declined 6.6% year over year. The company also raised its quarterly dividend to $0.44, representing a 1.3% annualized yield.

Copeland Capital Management LLC increased its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 35.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 258,164 shares of the scientific and technical instruments company's stock after purchasing an additional 67,258 shares during the quarter. Copeland Capital Management LLC owned 0.89% of Badger Meter worth $31,894,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Kornitzer Capital Management Inc. KS acquired a new position in Badger Meter in the first quarter valued at approximately $1,447,000. Bank of America Corp DE acquired a new stake in shares of Badger Meter during the 2nd quarter worth approximately $68,344,000. BlackRock Inc. acquired a new stake in shares of Badger Meter during the 2nd quarter worth approximately $725,926,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Badger Meter during the 2nd quarter worth approximately $2,298,000. Finally, Raiffeisen Bank International AG lifted its holdings in shares of Badger Meter by 66.7% in the 2nd quarter. Raiffeisen Bank International AG now owns 20,000 shares of the scientific and technical instruments company's stock worth $2,773,000 after purchasing an additional 8,000 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Wall Street Analysts Forecast Growth

BMI has been the subject of a number of analyst reports. Robert W. Baird set a $167.00 price objective on Badger Meter and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Barclays restated an "underweight" rating and set a $111.00 price objective (down from $112.00) on shares of Badger Meter in a research note on Tuesday. JPMorgan Chase & Co. dropped their target price on Badger Meter from $172.00 to $170.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. Northcoast Research upgraded Badger Meter from a "neutral" rating to a "buy" rating and set a $148.00 target price on the stock in a research note on Friday, September 18th. Finally, Seaport Research Partners set a $160.00 target price on Badger Meter in a research note on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $161.88.

Badger Meter Price Performance

BMI opened at $130.98 on Wednesday. The stock's 50 day moving average price is $130.89 and its 200 day moving average price is $133.36. The stock has a market cap of $3.80 billion, a P/E ratio of 30.60, a P/E/G ratio of 3.27 and a beta of 0.64. 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 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, topping analysts' consensus estimates of $1.01 by $0.01. The company had revenue of $220.30 million during the quarter, compared to analyst estimates of $220.59 million. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%. The firm's quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 EPS. Equities analysts anticipate that Badger Meter, Inc. will post 4.50 EPS for the current year.

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were paid a $0.44 dividend. The ex-dividend date of this dividend was 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 dividend payout ratio (DPR) is currently 41.12%.

Insider Activity

In related news, VP Edward Callahan acquired 751 shares of the firm's stock in a transaction dated Thursday, July 30th. The stock was acquired at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the acquisition, the vice president directly owned 1,937 shares of the company's stock, valued at approximately $261,979.25. The trade was a 63.32% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

About Badger Meter

Badger Meter, Inc is a Milwaukee, Wisconsin-based manufacturer of flow measurement, control and communications solutions. The company primarily serves the water industry, providing technologies that help utilities and other customers measure, manage and monitor the use and movement of water.

Its products include ultrasonic, electromagnetic and mechanical water meters, as well as flow instrumentation and related control equipment. Badger Meter also offers advanced metering infrastructure and remote monitoring solutions, including its ORION and BEACON platforms, which support automated meter reading, data collection, leak detection and utility management.

Founded in 1905, Badger Meter serves municipal water utilities, commercial and industrial customers, and other water-related markets in North America and internationally.

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