Bowen Hanes & Co. Inc. Grows Stock Holdings in Badger Meter, Inc. $BMI

Key Points

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Bowen Hanes & Co. Inc. raised its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,050 shares of the scientific and technical instruments company's stock after purchasing an additional 1,630 shares during the period. Bowen Hanes & Co. Inc. owned about 0.76% of Badger Meter worth $42,626,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of BMI. Values First Advisors Inc. increased its holdings in shares of Badger Meter by 0.6% in the 1st quarter. Values First Advisors Inc. now owns 8,739 shares of the scientific and technical instruments company's stock valued at $1,663,000 after acquiring an additional 53 shares during the period. Choreo LLC increased its holdings in shares of Badger Meter by 4.6% in the 1st quarter. Choreo LLC now owns 1,361 shares of the scientific and technical instruments company's stock valued at $259,000 after acquiring an additional 60 shares during the period. Covestor Ltd increased its holdings in shares of Badger Meter by 7.7% in the 1st quarter. Covestor Ltd now owns 1,018 shares of the scientific and technical instruments company's stock valued at $194,000 after acquiring an additional 73 shares during the period. Cim LLC increased its holdings in shares of Badger Meter by 0.8% in the 4th quarter. Cim LLC now owns 9,747 shares of the scientific and technical instruments company's stock valued at $2,068,000 after acquiring an additional 78 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Badger Meter by 7.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,221 shares of the scientific and technical instruments company's stock valued at $259,000 after acquiring an additional 81 shares during the period. 89.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BMI. Raymond James Financial began coverage on Badger Meter in a research report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Stifel Nicolaus set a $224.00 price objective on Badger Meter in a report on Wednesday, July 23rd. Royal Bank Of Canada cut their price objective on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Finally, Robert W. Baird upped their target price on 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, Badger Meter currently has an average rating of "Hold" and an average price target of $238.40.

Badger Meter Price Performance

Shares of NYSE:BMI traded up $6.2850 during midday trading on Friday, hitting $189.7350. The company had a trading volume of 297,529 shares, compared to its average volume of 387,758. The business's 50-day simple moving average is $216.97 and its 200-day simple moving average is $215.93. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 41.34, a price-to-earnings-growth ratio of 3.23 and a beta of 0.84. Badger Meter, Inc. has a twelve month low of $162.17 and a twelve month high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last posted its 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). The business had revenue of $238.10 million for the quarter, compared to analyst estimates of $235.38 million. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.Badger Meter's revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $1.12 EPS. As a group, sell-side analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.40 per share. This is an increase from Badger Meter's previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, August 22nd. Badger Meter's dividend payout ratio (DPR) is 29.63%.

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.