Badger Meter, Inc. $BMI Stock Position Reduced by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS reduced its stake in Badger Meter Inc. by 18.9%, owning 28,400 shares after selling 6,600 shares in the second quarter.
• Badger Meter recently declared an increased quarterly dividend of $0.40 per share, raising it from $0.34, resulting in a 0.9% dividend yield.
• The company's latest earnings report showed $238.10 million in revenue, a 9.9% increase year-over-year, despite missing the EPS estimate by $0.02.

KLP Kapitalforvaltning AS decreased its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 18.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,400 shares of the scientific and technical instruments company's stock after selling 6,600 shares during the period. KLP Kapitalforvaltning AS owned 0.10% of Badger Meter worth $6,957,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in shares of Badger Meter by 100.0% in the 1st 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 during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Badger Meter by 83.0% in the 1st 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 during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Badger Meter in the 1st quarter worth approximately $37,000. Olde Wealth Management LLC bought a new stake in shares of Badger Meter in the 1st quarter worth approximately $41,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of Badger Meter in the 1st quarter worth approximately $45,000. Institutional investors own 89.01% of the company's stock.

Badger Meter Stock Performance

Shares of BMI stock opened at $173.60 on Friday. Badger Meter, Inc. has a 1 year low of $162.17 and a 1 year high of $256.08. The stock has a market cap of $5.12 billion, a PE ratio of 37.82, a price-to-earnings-growth ratio of 3.17 and a beta of 0.90. The business's fifty day moving average is $182.15 and its 200-day moving average is $209.09.

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

Badger Meter Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were given a dividend of $0.40 per share. This is a boost from Badger Meter's previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Badger Meter's payout ratio is 34.86%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Zacks Research raised Badger Meter from a "strong sell" rating to a "hold" rating in a report on Monday, September 22nd. Robert W. Baird raised their price target on Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 price target on Badger Meter in a report on Wednesday, July 23rd. Royal Bank Of Canada cut their target price on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. initiated coverage on Badger Meter in a research note on Tuesday, September 9th. They set an "overweight" rating and a $230.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $237.00.

Badger Meter Company 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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