Nuveen LLC Invests $44.72 Million in Badger Meter, Inc. $BMI

Key Points

• Nuveen LLC acquired a stake in Badger Meter, Inc. by purchasing 235,033 shares valued at approximately $44.7 million, bringing their ownership to 0.80%.
• The company reported $1.17 earnings per share for the latest quarter, missing analysts' estimates of $1.19, while their revenue increased by 9.9% year-over-year.
• Badger Meter announced a dividend increase, raising its quarterly dividend from $0.34 to $0.40, with a dividend yield of 0.9% and a payout ratio of 29.63%.

Nuveen LLC bought a new stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 235,033 shares of the scientific and technical instruments company's stock, valued at approximately $44,715,000. Nuveen LLC owned 0.80% of Badger Meter as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its position in shares of Badger Meter by 162.5% in the 4th quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock worth $31,000 after acquiring an additional 91 shares during the period. Golden State Wealth Management LLC lifted 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 worth $35,000 after acquiring an additional 92 shares during the period. SBI Securities Co. Ltd. lifted its position in shares of Badger Meter by 83.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 88 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Badger Meter in the 1st quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Badger Meter in the 4th quarter worth approximately $39,000. Institutional investors own 89.01% of the company's stock.

Badger Meter Stock Down 2.3%

BMI traded down $4.35 during trading on Thursday, hitting $183.25. The company's stock had a trading volume of 333,247 shares, compared to its average volume of 406,834. The firm's 50 day moving average price is $218.03 and its two-hundred day moving average price is $216.12. Badger Meter, Inc. has a 12 month low of $162.17 and a 12 month high of $256.08. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 39.92, a price-to-earnings-growth ratio of 3.30 and a beta of 0.84.

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

Badger Meter Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a $0.40 dividend. This is a boost from Badger Meter's previous quarterly dividend of $0.34. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 22nd. Badger Meter's dividend payout ratio is currently 29.63%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Royal Bank Of Canada reduced their price objective on 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 assumed coverage on Badger Meter in a research report on Tuesday, June 3rd. They set a "market perform" rating for the company. Robert W. Baird raised their target price on Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 target price on Badger Meter in a research report on Wednesday, July 23rd. Finally, Argus set a $240.00 target price on Badger Meter in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $238.40.

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.