Intech Investment Management LLC Grows 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 increased its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 18.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and 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 about 0.12% of Badger Meter worth $6,486,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Values First Advisors Inc. increased its position in Badger Meter by 0.6% in the 1st quarter. Values First Advisors Inc. now owns 8,739 shares of the scientific and technical instruments company's stock worth $1,663,000 after purchasing an additional 53 shares during the last quarter. Choreo LLC grew its holdings in Badger Meter by 4.6% in the 1st quarter. Choreo LLC now owns 1,361 shares of the scientific and technical instruments company's stock valued at $259,000 after buying an additional 60 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Badger Meter by 11.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 618 shares of the scientific and technical instruments company's stock valued at $118,000 after buying an additional 64 shares during the last quarter. Covestor Ltd lifted its position in shares of Badger Meter by 7.7% in the 1st quarter. Covestor Ltd now owns 1,018 shares of the scientific and technical instruments company's stock worth $194,000 after acquiring an additional 73 shares during the period. Finally, Evergreen Capital Management LLC lifted its position in shares of Badger Meter by 2.8% in the 1st quarter. Evergreen Capital Management LLC now owns 2,857 shares of the scientific and technical instruments company's stock worth $544,000 after acquiring an additional 77 shares during the period. 89.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. assumed coverage on Badger Meter in a research report on Tuesday, September 9th. They set an "overweight" rating and a $230.00 target price for the company. Stifel Nicolaus set a $224.00 target price on Badger Meter in a research note on Wednesday, July 23rd. Robert W. Baird lifted their target price on Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Raymond James Financial began coverage on Badger Meter in a research note on Tuesday, June 3rd. They issued a "market perform" rating for the company. Finally, Royal Bank Of Canada decreased their price objective on Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a research note 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.00.

Badger Meter Stock Performance

BMI stock traded down $3.02 during midday trading on Wednesday, reaching $174.23. 259,052 shares of the company's stock traded hands, compared to its average volume of 282,728. The firm has a market capitalization of $5.13 billion, a PE ratio of 37.98, a price-to-earnings-growth ratio of 3.18 and a beta of 0.87. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08. The company has a 50-day moving average price of $196.24 and a two-hundred day moving average price of $212.13.

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 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 the consensus estimate of $235.38 million. During the same period in the prior year, the company earned $1.12 EPS. The firm's revenue was up 9.9% compared to the same quarter last year. As a group, analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.9%. This is a boost from Badger Meter's previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 22nd. Badger Meter's dividend payout ratio (DPR) is 34.86%.

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.