Hsbc Holdings PLC Purchases 17,505 Shares of Badger Meter, Inc. $BMI

Key Points

• Hsbc Holdings PLC increased its stake in Badger Meter, Inc. by 406.3%, now owning 21,813 shares valued at approximately $4.13 million as of the end of the recent quarter.
• Badger Meter recently increased its quarterly dividend from $0.34 to $0.40 per share, with a dividend yield of 0.9%.
• Research analysts set Badger Meter's price target between $219.00 and $264.00, with the stock currently rated as a "Hold" by several firms.

Hsbc Holdings PLC increased its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 406.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,813 shares of the scientific and technical instruments company's stock after purchasing an additional 17,505 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of Badger Meter worth $4,132,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BMI. Golden State Wealth Management LLC raised its holdings in shares of Badger Meter by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 92 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of Badger Meter by 83.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 88 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Badger Meter in the 1st quarter worth approximately $37,000. Heck Capital Advisors LLC bought a new stake in shares of Badger Meter in the 4th quarter worth approximately $39,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Badger Meter in the 1st quarter worth approximately $41,000. Institutional investors own 89.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BMI. Stifel Nicolaus set a $224.00 price target on shares of Badger Meter in a report on Wednesday, July 23rd. Royal Bank Of Canada lowered their price target on shares of Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Robert W. Baird lifted 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, Raymond James Financial started coverage on shares of Badger Meter in a research note on Tuesday, June 3rd. They issued a "market perform" rating for the company. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Badger Meter presently has a consensus rating of "Hold" and an average target price of $238.40.

Badger Meter Trading Up 0.3%

Badger Meter stock opened at $185.61 on Wednesday. Badger Meter, Inc. has a 1-year low of $162.17 and a 1-year high of $256.08. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 40.44, a P/E/G ratio of 3.26 and a beta of 0.84. The firm has a 50 day simple moving average of $214.68 and a 200 day simple moving average of $215.48.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share 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 business had revenue of $238.10 million during the quarter, compared to analysts' expectations of $235.38 million. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The firm's quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research 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. The ex-dividend date is Friday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Badger Meter's dividend payout ratio (DPR) is presently 34.86%.

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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