Fundsmith LLP Has $25.91 Million Position in Badger Meter, Inc. $BMI

Key Points

• Fundsmith LLP increased its Badger Meter stake by 22.6% in the second quarter, bringing its holdings to 174,627 shares valued at approximately $25.91 million. Institutional investors collectively own 89.01% of the company.
• Badger Meter’s latest quarterly results modestly exceeded earnings expectations, with EPS of $1.02 versus the $1.01 consensus, although revenue fell 6.6% year over year to $220.3 million.
• The company raised its quarterly dividend to $0.44 per share, or $1.76 annualized, representing a 1.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $164.

Fundsmith LLP grew its stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 22.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 174,627 shares of the scientific and technical instruments company's stock after purchasing an additional 32,136 shares during the period. Badger Meter comprises approximately 0.2% of Fundsmith LLP's portfolio, making the stock its 28th biggest position. Fundsmith LLP owned about 0.60% of Badger Meter worth $25,911,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BMI. XXEC Inc. purchased a new position in shares of Badger Meter during the 2nd quarter valued at $825,029,000. BlackRock Inc. bought a new position in shares of Badger Meter in the second quarter valued at approximately $725,926,000. Norges Bank purchased a new position in Badger Meter during the fourth quarter valued at approximately $83,819,000. Bank of America Corp DE bought a new stake in Badger Meter during the 2nd quarter worth approximately $68,344,000. Finally, American Capital Management Inc. purchased a new stake in Badger Meter in the 2nd quarter worth approximately $38,318,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

Badger Meter Price Performance

Shares of NYSE BMI opened at $135.68 on Monday. The stock has a market capitalization of $3.93 billion, a P/E ratio of 31.70 and a beta of 0.65. Badger Meter, Inc. has a one year low of $112.09 and a one year high of $204.00. The firm's 50 day simple moving average is $137.64 and its two-hundred day simple moving average is $138.66.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.01. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The company had revenue of $220.30 million during the quarter, compared to analysts' expectations of $220.59 million. During the same quarter in the prior year, the company earned $1.17 EPS. The firm's revenue was down 6.6% on a year-over-year basis. As a group, equities analysts expect that Badger Meter, Inc. will post 4.5 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Badger Meter's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, August 28th. Badger Meter's payout ratio is 41.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BMI shares. JPMorgan Chase & Co. reduced their price target on shares of Badger Meter from $172.00 to $170.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Barclays reissued an "underweight" rating and set a $112.00 price objective (up from $109.00) on shares of Badger Meter in a research note on Tuesday, July 28th. Zacks Research upgraded Badger Meter from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Stifel Nicolaus set a $170.00 price target on Badger Meter and gave the company a "buy" rating in a report on Monday, July 20th. Finally, Wall Street Zen raised Badger Meter from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Badger Meter has an average rating of "Hold" and a consensus target price of $164.00.

Insider Activity

In related news, VP Edward F. Callahan acquired 751 shares of the firm's stock in a transaction dated Thursday, July 30th. The shares were purchased at an average price of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the acquisition, the vice president owned 1,937 shares in the company, valued at approximately $261,979.25. This represents a 63.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.00% of the company's stock.

About Badger Meter

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company's core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company's product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.

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