Envestnet Portfolio Solutions Inc. Raises Stock Position in Badger Meter, Inc. $BMI

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Badger Meter by 107.5%, owning nearly 5,000 shares worth approximately $1.2 million after acquiring additional shares in the 2nd quarter.
• Badger Meter reported $1.17 EPS for the last quarter, missing expectations slightly, but showed 9.9% revenue growth year-over-year to $238.1 million.
• The company also increased its quarterly dividend from $0.34 to $0.40, reflecting a 0.9% yield with a payout ratio of 34.86%.

Envestnet Portfolio Solutions Inc. increased its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 107.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,971 shares of the scientific and technical instruments company's stock after acquiring an additional 2,575 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Badger Meter were worth $1,218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BMI. Golden State Wealth Management LLC grew its holdings in shares of Badger Meter by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock worth $35,000 after buying an additional 92 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Badger Meter by 83.0% in the first quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 88 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Badger Meter in the first quarter valued at about $37,000. Olde Wealth Management LLC acquired a new stake in shares of Badger Meter in the first quarter valued at about $41,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Badger Meter in the first quarter valued at about $67,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

Badger Meter Trading Up 1.1%

Shares of BMI opened at $179.89 on Friday. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $256.08. The firm has a 50-day moving average price of $181.18 and a 200 day moving average price of $208.58. The firm has a market capitalization of $5.30 billion, a P/E ratio of 39.19, a P/E/G ratio of 3.18 and a beta of 0.90.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $235.38 million. During the same period in the prior year, the company posted $1.12 EPS. The company'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 fiscal year.

Badger Meter Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings cut shares of Badger Meter from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Royal Bank Of Canada reduced their target price on shares of Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. assumed coverage on shares of Badger Meter in a research report on Tuesday, September 9th. They issued an "overweight" rating and a $230.00 target price for the company. Stifel Nicolaus set a $224.00 price objective on shares of Badger Meter in a report on Wednesday, July 23rd. Finally, Zacks Research raised shares of Badger Meter from a "strong sell" rating to a "hold" rating in a report on Monday, September 22nd. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Badger Meter has a consensus rating of "Hold" and a consensus 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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