3,640 Shares in Badger Meter, Inc. $BMI Purchased by Perbak Capital Partners LLP

Key Points

• Perbak Capital Partners LLP has acquired a new stake in Badger Meter, purchasing 3,640 shares valued at approximately $693,000, making it the 26th largest position in their portfolio.
• Badger Meter recently reported a quarterly EPS of $1.17, missing estimates, while revenue reached $238.10 million, surpassing expectations of $235.38 million.
• The company has announced an increase in its quarterly dividend from $0.34 to $0.40 per share, reflecting a commitment to returning value to shareholders.

Perbak Capital Partners LLP acquired a new stake in Badger Meter, Inc. (NYSE:BMI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,640 shares of the scientific and technical instruments company's stock, valued at approximately $693,000. Badger Meter accounts for 0.5% of Perbak Capital Partners LLP's holdings, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Values First Advisors Inc. boosted its position in shares of Badger Meter by 0.6% in the 1st quarter. Values First Advisors Inc. now owns 8,739 shares of the scientific and technical instruments company's stock valued at $1,663,000 after purchasing an additional 53 shares during the period. Choreo LLC lifted its position in Badger Meter by 4.6% during the 1st quarter. Choreo LLC now owns 1,361 shares of the scientific and technical instruments company's stock worth $259,000 after acquiring an additional 60 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Badger Meter by 11.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 618 shares of the scientific and technical instruments company's stock worth $118,000 after acquiring an additional 64 shares during the period. Covestor Ltd lifted its position in Badger Meter by 7.7% during the 1st quarter. Covestor Ltd now owns 1,018 shares of the scientific and technical instruments company's stock worth $194,000 after acquiring an additional 73 shares during the period. Finally, Evergreen Capital Management LLC raised its stake in shares of Badger Meter by 2.8% during the 1st quarter. Evergreen Capital Management LLC now owns 2,857 shares of the scientific and technical instruments company's stock worth $544,000 after buying an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 89.01% of the company's stock.

Analyst Upgrades and Downgrades

BMI has been the subject of a number of analyst reports. Stifel Nicolaus set a $224.00 target price on Badger Meter in a research note on Wednesday, July 23rd. Raymond James Financial started coverage on Badger Meter in a report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Robert W. Baird increased their target price on Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada decreased their price objective on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $238.40.

Badger Meter Trading Down 0.5%

NYSE:BMI traded down $0.86 during mid-day trading on Friday, hitting $182.39. The company had a trading volume of 269,927 shares, compared to its average volume of 266,646. The business has a fifty day simple moving average of $204.92 and a 200-day simple moving average of $213.60. Badger Meter, Inc. has a 1 year low of $162.17 and a 1 year high of $256.08. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 39.74, a PEG ratio of 3.22 and a beta of 0.87.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings data 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). Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The company had revenue of $238.10 million during the quarter, compared to analysts' expectations of $235.38 million. During the same period last year, the business earned $1.12 earnings per share. The company's revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, research analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 22nd. This is a positive change from Badger Meter's previous quarterly dividend of $0.34. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Badger Meter's dividend payout ratio is presently 34.86%.

About Badger Meter

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.