Northwestern Mutual Wealth Management Co. Has $8.42 Million Stake in Badger Meter, Inc. $BMI

Key Points

• Northwestern Mutual Wealth Management increased its Badger Meter position by 7,734.8% in the second quarter, ending with 56,724 shares valued at approximately $8.42 million. Institutional investors collectively own 89.01% of the company.
• Analyst sentiment remains mixed, with five Buy, five Hold and one Sell rating. The consensus rating is Hold, with an average price target of $164.
• Badger Meter reported quarterly EPS of $1.02, slightly above estimates, while revenue fell 6.6% year over year to $220.3 million. The company also raised its quarterly dividend to $0.44 per share, implying a 1.3% annual yield.

Northwestern Mutual Wealth Management Co. boosted its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 7,734.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,724 shares of the scientific and technical instruments company's stock after purchasing an additional 56,000 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.20% of Badger Meter worth $8,417,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of BMI. XXEC Inc. purchased a new position in shares of Badger Meter during the second quarter valued at $825,029,000. BlackRock Inc. purchased a new stake in Badger Meter in the 2nd quarter worth about $725,926,000. State Street Corp boosted its position in Badger Meter by 1.4% during the 2nd quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company's stock worth $358,315,000 after acquiring an additional 20,122 shares during the period. Invesco Ltd. grew its stake in Badger Meter by 20.9% during the 3rd quarter. Invesco Ltd. now owns 970,219 shares of the scientific and technical instruments company's stock valued at $173,262,000 after acquiring an additional 168,053 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Badger Meter by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 876,854 shares of the scientific and technical instruments company's stock valued at $152,951,000 after acquiring an additional 4,035 shares in the last quarter. Hedge funds and other institutional investors own 89.01% of the company's stock.

Analysts Set New Price Targets

BMI has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Badger Meter from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 28th. Wall Street Zen upgraded shares of Badger Meter from a "sell" rating to a "hold" rating in a research note on Saturday, August 22nd. Zacks Research upgraded shares of Badger Meter from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Barclays reissued an "underweight" rating and set a $112.00 target price (up from $109.00) on shares of Badger Meter in a research note on Tuesday, July 28th. Finally, Royal Bank Of Canada dropped their price target on shares of Badger Meter from $169.00 to $162.00 and set an "outperform" rating on the stock in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $164.00.

Insider Activity

In other Badger Meter news, VP Edward F. Callahan acquired 751 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was purchased at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the acquisition, the vice president owned 1,937 shares of the company's stock, valued at approximately $261,979.25. This trade represents a 63.32% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company's stock.

Badger Meter Stock Performance

Shares of NYSE BMI opened at $132.54 on Thursday. The business has a 50 day simple moving average of $137.69 and a 200 day simple moving average of $138.16. Badger Meter, Inc. has a 52 week low of $112.09 and a 52 week high of $204.00. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 3.26 and a beta of 0.65.

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

Badger Meter Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, August 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Badger Meter's previous quarterly dividend of $0.40. Badger Meter's payout ratio is 41.12%.

Badger Meter 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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