Bridges Investment Management Inc. Increases Stock Position in Badger Meter, Inc. $BMI

Key Points

• Bridges Investment Management Inc. increased its stake in Badger Meter, Inc. by 14.4%, owning 12,276 shares worth approximately $3 million after purchasing an additional 1,547 shares in the second quarter.
• Badger Meter recently increased its quarterly dividend from $0.34 to $0.40 per share, reflecting a 0.9% dividend yield and a payout ratio of 34.86%.
• Analysts have issued a consensus rating of "Hold" for Badger Meter, with a price target averaging around $237.00, but reports suggest a range of opinions from "buy" to "hold".

Bridges Investment Management Inc. lifted its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 14.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,276 shares of the scientific and technical instruments company's stock after buying an additional 1,547 shares during the quarter. Bridges Investment Management Inc.'s holdings in Badger Meter were worth $3,007,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. New York State Teachers Retirement System lifted its stake in Badger Meter by 0.9% in the 2nd quarter. New York State Teachers Retirement System now owns 11,734 shares of the scientific and technical instruments company's stock worth $2,874,000 after purchasing an additional 100 shares in the last quarter. Jag Capital Management LLC purchased a new stake in Badger Meter in the 2nd quarter worth approximately $218,000. Envestnet Portfolio Solutions Inc. lifted its stake in Badger Meter by 107.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,971 shares of the scientific and technical instruments company's stock worth $1,218,000 after purchasing an additional 2,575 shares in the last quarter. Yousif Capital Management LLC lifted its stake in Badger Meter by 1.2% in the 2nd quarter. Yousif Capital Management LLC now owns 12,018 shares of the scientific and technical instruments company's stock worth $2,944,000 after purchasing an additional 144 shares in the last quarter. Finally, MGO One Seven LLC lifted its stake in Badger Meter by 18.1% in the 2nd quarter. MGO One Seven LLC now owns 8,469 shares of the scientific and technical instruments company's stock worth $2,075,000 after purchasing an additional 1,297 shares in the last quarter. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Price Performance

Shares of NYSE:BMI opened at $178.16 on Friday. The company's fifty day moving average price is $181.35 and its 200-day moving average price is $208.58. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 3.19 and a beta of 0.90. Badger Meter, Inc. has a one year low of $162.17 and a one year high of $256.08.

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 EPS for the quarter, missing analysts' consensus estimates of $1.19 by ($0.02). Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The company had revenue of $238.10 million during the quarter, compared to the consensus estimate of $235.38 million. During the same period in the previous year, the company earned $1.12 EPS. Badger Meter's quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts expect that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on BMI. JPMorgan Chase & Co. began coverage on shares of Badger Meter in a research note on Tuesday, September 9th. They issued an "overweight" rating and a $230.00 target price on the stock. Zacks Research upgraded shares of Badger Meter from a "strong sell" rating to a "hold" rating in a research note on Monday, September 22nd. Stifel Nicolaus set a $224.00 target price on shares of Badger Meter in a research note on Wednesday, July 23rd. Robert W. Baird increased their price target on shares of Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings lowered shares of Badger Meter from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Three equities research 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, Badger Meter has a consensus rating of "Hold" and a consensus price target of $237.00.

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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