Jupiter Topco LLC Makes New $1.91 Million Investment in Badger Meter, Inc. $BMI

Key Points

• Jupiter Topco acquired 12,849 Badger Meter shares worth approximately $1.91 million in the second quarter. Institutional investors and hedge funds collectively own 89.01% of the company.
• Badger Meter slightly exceeded quarterly earnings expectations, reporting $1.02 EPS versus the $1.01 consensus, though revenue fell 6.6% year over year to $220.3 million.
• The company raised its quarterly dividend from $0.40 to $0.44 per share, while analysts maintain a “Hold” consensus with an average price target of $164, above the stock’s recent $136.34 price.

Jupiter Topco LLC purchased a new stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,849 shares of the scientific and technical instruments company's stock, valued at approximately $1,908,000.

Other large investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its holdings in Badger Meter by 76.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company's stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. purchased a new stake in Badger Meter in the fourth quarter valued at approximately $27,000. Brown Brothers Harriman & Co. lifted its stake in Badger Meter by 62.3% during the third quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company's stock worth $33,000 after purchasing an additional 71 shares in the last quarter. Dunhill Financial LLC acquired a new position in Badger Meter during the second quarter worth $28,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Badger Meter during the second quarter worth $30,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Stock Up 2.8%

Shares of BMI stock opened at $136.34 on Friday. The firm has a 50 day moving average of $137.61 and a two-hundred day moving average of $138.03. The stock has a market capitalization of $3.95 billion, a PE ratio of 31.86, a P/E/G ratio of 3.27 and a beta of 0.65. Badger Meter, Inc. has a 52 week low of $112.09 and a 52 week high of $204.00.

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

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a dividend of $0.44 per share. This is a positive change from Badger Meter's previous quarterly dividend of $0.40. The ex-dividend date is Friday, August 28th. This represents a $1.76 annualized dividend and a yield of 1.3%. Badger Meter's dividend payout ratio (DPR) is currently 41.12%.

Insiders Place Their Bets

In related news, VP Edward Callahan purchased 751 shares of Badger Meter stock in a transaction on Thursday, July 30th. The shares were bought at an average price of $135.25 per share, with a total value of $101,572.75. Following the transaction, the vice president directly owned 1,937 shares of the company's stock, valued at approximately $261,979.25. This trade represents a 63.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BMI. Robert W. Baird set a $167.00 price objective on Badger Meter and gave the company an "outperform" rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. decreased their target price on Badger Meter from $172.00 to $170.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Wall Street Zen upgraded Badger Meter from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Weiss Ratings raised Badger Meter from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 28th. Finally, Seaport Research Partners set a $160.00 price target on shares of Badger Meter in a research note on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $164.00.

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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