Modern Wealth Management LLC Buys New Shares in Badger Meter, Inc. $BMI

Key Points

• Modern Wealth Management LLC has acquired a new stake in Badger Meter, Inc. valued at approximately $327,000 by purchasing 1,719 shares during the first quarter.
• Badger Meter recently announced an increase in its quarterly dividend to $0.40 per share, reflecting a jump from its previous dividend of $0.34.
• Analysts have set a moderate buy average rating for Badger Meter with a target price of $237.00, following several brokerages providing new price objectives for the company.

Modern Wealth Management LLC bought a new stake in Badger Meter, Inc. (NYSE:BMI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,719 shares of the scientific and technical instruments company's stock, valued at approximately $327,000.

Other hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its position in Badger Meter by 22.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,731 shares of the scientific and technical instruments company's stock valued at $519,000 after purchasing an additional 506 shares in the last quarter. SG Americas Securities LLC bought a new position in Badger Meter in the first quarter valued at $369,000. GAMMA Investing LLC grew its position in Badger Meter by 11.8% in the first quarter. GAMMA Investing LLC now owns 878 shares of the scientific and technical instruments company's stock valued at $167,000 after purchasing an additional 93 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Badger Meter in the 1st quarter valued at about $65,448,000. Finally, Golden State Wealth Management LLC grew its position 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 valued at $35,000 after acquiring an additional 92 shares during the period. Institutional investors own 89.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BMI. JPMorgan Chase & Co. began coverage on shares of Badger Meter in a research report on Tuesday, September 9th. They issued an "overweight" rating and a $230.00 price objective for the company. Royal Bank Of Canada decreased their price objective 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. Raymond James Financial began coverage on shares of Badger Meter in a research report on Tuesday, June 3rd. They issued a "market perform" rating for the company. Stifel Nicolaus set a $224.00 price objective on shares of Badger Meter in a research report on Wednesday, July 23rd. Finally, Robert W. Baird lifted their price objective on shares of Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Badger Meter has an average rating of "Moderate Buy" and an average target price of $237.00.

Badger Meter Trading Up 1.4%

Shares of NYSE:BMI opened at $180.36 on Tuesday. The firm has a 50 day moving average of $197.47 and a 200-day moving average of $212.37. The stock has a market capitalization of $5.32 billion, a PE ratio of 39.29, a PEG ratio of 3.15 and a beta of 0.88. Badger Meter, Inc. has a 12 month low of $162.17 and a 12 month high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.02). The firm had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.38 million. Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. Badger Meter's quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 earnings per share. On average, research analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, August 22nd. This is a boost from Badger Meter's previous quarterly dividend of $0.34. Badger Meter's dividend 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.

Want to see what other hedge funds are holding BMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Badger Meter, Inc. (NYSE:BMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.