Intech Investment Management LLC Grows Stock Holdings in Badger Meter, Inc. $BMI

Key Points

• Intech Investment Management LLC increased its holdings in Badger Meter by 18.4% during the first quarter, owning approximately 0.12% of the company, valued at $6.5 million.
• Badger Meter reported a quarterly earnings per share (EPS) of $1.17, missing analysts' estimates, while its revenue was $238.1 million, slightly surpassing expectations.
• The company announced an increase in its dividend to $0.40 per share, representing a dividend yield of 0.9%, up from a previous $0.34.

Intech Investment Management LLC lifted its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 18.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,091 shares of the scientific and technical instruments company's stock after acquiring an additional 5,308 shares during the period. Intech Investment Management LLC owned approximately 0.12% of Badger Meter worth $6,486,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in shares of Badger Meter during the fourth quarter valued at approximately $39,000. Golden State Wealth Management LLC increased its position 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 acquiring an additional 92 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Badger Meter by 83.0% during 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 acquiring an additional 88 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Badger Meter during the first quarter valued at approximately $37,000. Finally, Olde Wealth Management LLC bought a new stake in Badger Meter in the 1st quarter worth approximately $41,000. Institutional investors own 89.01% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. 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. Raymond James Financial assumed coverage on shares of Badger Meter in a research report on Tuesday, June 3rd. They issued a "market perform" rating for the company. Robert W. Baird lifted their target price on shares of Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 target price on shares of Badger Meter in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada cut 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. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Badger Meter currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.00.

Badger Meter Trading Down 1.1%

Shares of BMI traded down $1.97 during trading hours on Tuesday, reaching $177.79. 206,198 shares of the stock traded hands, compared to its average volume of 281,546. Badger Meter, Inc. has a 52-week low of $162.17 and a 52-week high of $256.08. The company's 50-day moving average price is $197.47 and its two-hundred day moving average price is $212.37. The company has a market cap of $5.24 billion, a P/E ratio of 38.69, a price-to-earnings-growth ratio of 3.15 and a beta of 0.88.

Badger Meter (NYSE:BMI - Get Free Report) last released its earnings results 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 firm had revenue of $238.10 million for the quarter, compared to analysts' expectations of $235.38 million. During the same quarter last year, the firm posted $1.12 EPS. The firm's quarterly revenue was up 9.9% compared to the same quarter last year. On average, research analysts forecast 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. Stockholders of record on Friday, August 22nd were issued a $0.40 dividend. This is a boost from Badger Meter's previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Badger Meter's payout ratio 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.