Badger Meter, Inc. $BMI Shares Purchased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its investment in Badger Meter, Inc. by 0.6%, owning approximately 257,863 shares valued at $49.06 million.
• Badger Meter recently increased its quarterly dividend from $0.34 to $0.40, representing a 0.9% yield, with a payout ratio of 34.86%.
• The company reported Q2 earnings of $1.17 EPS, slightly missing estimates, but revenue grew 9.9% year-over-year, reaching $238.10 million.

Price T Rowe Associates Inc. MD raised its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 257,863 shares of the scientific and technical instruments company's stock after buying an additional 1,646 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.88% of Badger Meter worth $49,060,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its position in Badger Meter by 22.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,731 shares of the scientific and technical instruments company's stock valued at $519,000 after buying an additional 506 shares during the last quarter. SG Americas Securities LLC acquired a new position in Badger Meter in the first quarter valued at about $369,000. GAMMA Investing LLC lifted its position in Badger Meter by 11.8% in the first quarter. GAMMA Investing LLC now owns 878 shares of the scientific and technical instruments company's stock valued at $167,000 after buying an additional 93 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in Badger Meter in the first quarter valued at about $65,448,000. Finally, Golden State Wealth Management LLC lifted its position in Badger Meter by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock valued at $35,000 after buying an additional 92 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Royal Bank Of Canada cut their price target on shares of Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Raymond James Financial assumed coverage on shares of Badger Meter in a research note on Tuesday, June 3rd. They set a "market perform" rating on the stock. Stifel Nicolaus set a $224.00 price target on shares of Badger Meter in a research note on Wednesday, July 23rd. Finally, Robert W. Baird boosted their price target on shares of Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Badger Meter presently has an average rating of "Hold" and a consensus target price of $238.40.

Badger Meter Stock Up 0.3%

Shares of Badger Meter stock opened at $185.61 on Wednesday. The firm has a market capitalization of $5.47 billion, a P/E ratio of 40.44, a P/E/G ratio of 3.26 and a beta of 0.84. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08. The firm's 50 day moving average is $214.68 and its two-hundred day moving average is $215.48.

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

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be paid a $0.40 dividend. This is an increase from Badger Meter's previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, August 22nd. Badger Meter's payout ratio is currently 34.86%.

Badger Meter Profile

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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