Fox Run Management L.L.C. Takes $603,000 Position in Badger Meter, Inc. $BMI

Key Points

• Fox Run Management L.L.C. invested approximately $603,000 in Badger Meter, purchasing 3,168 shares during the first quarter.
• Badger Meter's quarterly earnings report showed an EPS of $1.17, which was below analysts' expectations of $1.19, despite revenues exceeding forecasts.
• The company announced a quarterly dividend of $0.40 per share, increasing from the prior dividend of $0.34, reflecting a commitment to returning value to shareholders.

Fox Run Management L.L.C. acquired a new stake in Badger Meter, Inc. (NYSE:BMI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,168 shares of the scientific and technical instruments company's stock, valued at approximately $603,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMI. Cambridge Investment Research Advisors Inc. raised its position in Badger Meter by 22.7% in the 1st 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 purchased a new position in shares of Badger Meter during the 1st quarter valued at about $369,000. GAMMA Investing LLC raised its holdings in shares of Badger Meter by 11.8% during the 1st 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 in the last quarter. Westfield Capital Management Co. LP purchased a new position in Badger Meter in the 1st quarter worth approximately $65,448,000. Finally, Golden State Wealth Management LLC increased its stake 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 valued at $35,000 after buying an additional 92 shares during the period. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Stock Down 0.2%

Shares of Badger Meter stock traded down $0.3250 on Wednesday, hitting $187.3350. 220,907 shares of the company were exchanged, compared to its average volume of 276,614. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 40.81, a price-to-earnings-growth ratio of 3.29 and a beta of 0.84. The company has a 50-day moving average price of $220.41 and a 200 day moving average price of $216.54. Badger Meter, Inc. has a 1-year low of $162.17 and a 1-year high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last announced its earnings results 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). The firm 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 firm's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 EPS. Research analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Increases Dividend

The company also recently announced 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 represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 22nd. This is an increase from Badger Meter's previous quarterly dividend of $0.34. Badger Meter's dividend payout ratio is presently 29.63%.

Analyst Ratings Changes

BMI has been the topic of several analyst reports. Raymond James Financial assumed coverage on Badger Meter in a report on Tuesday, June 3rd. They issued a "market perform" rating on the stock. Argus set a $240.00 price target on Badger Meter in a research report on Thursday, April 24th. Robert W. Baird upped their price objective on Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 price target on Badger Meter in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reduced their price target on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $238.40.

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.