Louisiana State Employees Retirement System Acquires New Holdings in Badger Meter, Inc. $BMI

Key Points

• Louisiana State Employees Retirement System initiated a new position in Badger Meter during the first quarter, buying 13,100 shares valued at about $1.996 million.
• Institutional interest in BMI remains strong, with several other hedge funds and investors adding positions and institutional ownership at 89.01% of the company’s stock.
• Despite recent insider buying and a 7.2% move higher in the stock, analyst sentiment is mixed-to-bearish, with a consensus rating of “Hold” and ongoing class action lawsuit concerns weighing on sentiment.

Louisiana State Employees Retirement System bought a new stake in Badger Meter, Inc. (NYSE:BMI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,100 shares of the scientific and technical instruments company's stock, valued at approximately $1,996,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. N.E.W. Advisory Services LLC acquired a new position in shares of Badger Meter during the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Badger Meter by 76.5% during 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 acquiring an additional 65 shares in the last quarter. Godfrey Financial Associates Inc. bought a new stake in Badger Meter during the 4th quarter worth $27,000. Brown Brothers Harriman & Co. grew its position in Badger Meter by 62.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company's stock worth $33,000 after acquiring an additional 71 shares during the last quarter. Finally, Strategic Advocates LLC acquired a new position in Badger Meter in the 3rd quarter worth about $41,000. Institutional investors own 89.01% of the company's stock.

More Badger Meter News

Here are the key news stories impacting Badger Meter this week:

• Negative Sentiment: Multiple law firms issued reminders and investor alerts about the ongoing class action, increasing legal overhang and uncertainty for BMI shareholders. Article Title
• Negative Sentiment: The core allegations in the lawsuit may weigh on sentiment, including claims that Badger Meter misled investors about demand strength and near-term order trends. Article Title
• Negative Sentiment: One law firm specifically pointed to allegations that prior guidance of “high single-digit” growth was followed by a 9% revenue decline, which could reinforce concerns about execution and reporting credibility. Article Title

Insider Buying and Selling

In other news, VP Edward F. Callahan acquired 858 shares of Badger Meter stock in a transaction dated Tuesday, April 21st. The shares were bought at an average cost of $116.30 per share, with a total value of $99,785.40. Following the purchase, the vice president owned 1,186 shares in the company, valued at $137,931.80. This trade represents a 261.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Richard Htwe acquired 1,700 shares of the firm's stock in a transaction dated Tuesday, April 21st. The shares were purchased at an average price of $116.13 per share, with a total value of $197,421.00. Following the completion of the transaction, the vice president owned 7,603 shares of the company's stock, valued at $882,936.39. This trade represents a 28.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders purchased 6,628 shares of company stock worth $777,128. Corporate insiders own 1.00% of the company's stock.

Badger Meter Trading Up 7.2%

Shares of BMI stock opened at $148.66 on Wednesday. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.49 and a beta of 0.68. The stock has a 50-day moving average of $126.04 and a 200-day moving average of $148.55. Badger Meter, Inc. has a 1-year low of $112.09 and a 1-year high of $249.56.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 EPS for the quarter. Badger Meter had a return on equity of 18.76% and a net margin of 14.56%.The company had revenue of $220.71 million for the quarter. Sell-side analysts forecast that Badger Meter, Inc. will post 4.51 earnings per share for the current year.

Badger Meter Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a $0.40 dividend. The ex-dividend date was Friday, May 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Badger Meter's payout ratio is 36.12%.

Analyst Upgrades and Downgrades

Several research firms have commented on BMI. Barclays set a $110.00 target price on Badger Meter and gave the company an "underweight" rating in a research report on Monday, April 20th. Wall Street Zen downgraded Badger Meter from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Maxim Group lowered shares of Badger Meter from a "buy" rating to a "hold" rating in a report on Thursday, April 23rd. Stifel Nicolaus set a $140.00 target price on shares of Badger Meter in a research report on Friday, May 22nd. Finally, Zacks Research lowered shares of Badger Meter from a "hold" rating to a "strong sell" rating in a report on Friday, June 5th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $155.86.

Badger Meter Company Profile

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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