Perpetual Ltd Sells 6,677 Shares of Badger Meter, Inc. $BMI

Key Points

• Perpetual Ltd reduced its holdings in Badger Meter, Inc. by 11.3%, selling 6,677 shares during the second quarter, leaving them with 52,426 shares valued at approximately $12.84 million.
• Badger Meter reported $1.17 earnings per share (EPS) for the latest quarter, missing analysts' estimates, while revenue increased by 9.9% compared to the previous year.
• The company has recently increased its quarterly dividend to $0.40 per share, up from $0.34, with a current annualized dividend yield of 0.9%.

Perpetual Ltd reduced its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 11.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,426 shares of the scientific and technical instruments company's stock after selling 6,677 shares during the period. Perpetual Ltd owned about 0.18% of Badger Meter worth $12,842,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Carderock Capital Management Inc. bought a new position in Badger Meter during the second quarter valued at approximately $2,643,000. Financiere des Professionnels Fonds d investissement inc. bought a new position in Badger Meter during the second quarter valued at approximately $293,000. Harbor Capital Advisors Inc. grew its position in Badger Meter by 307.5% during the second quarter. Harbor Capital Advisors Inc. now owns 24,364 shares of the scientific and technical instruments company's stock valued at $5,968,000 after acquiring an additional 18,385 shares during the last quarter. Gallacher Capital Management LLC bought a new position in Badger Meter during the second quarter valued at approximately $255,000. Finally, Parallel Advisors LLC grew its position in Badger Meter by 6.1% during the second quarter. Parallel Advisors LLC now owns 1,039 shares of the scientific and technical instruments company's stock valued at $255,000 after acquiring an additional 60 shares during the last quarter. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Trading Down 0.6%

BMI opened at $177.19 on Friday. The stock has a fifty day simple moving average of $192.44 and a two-hundred day simple moving average of $211.41. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 38.60, a price-to-earnings-growth ratio of 3.16 and a beta of 0.87. 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 posted 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 analysts' consensus estimates of $1.19 by ($0.02). Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The firm had revenue of $238.10 million during the quarter, compared to the consensus estimate of $235.38 million. During the same quarter last year, the company posted $1.12 EPS. Badger Meter's revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 22nd. This is a boost from Badger Meter's previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Badger Meter's dividend payout ratio is 34.86%.

Wall Street Analysts Forecast Growth

BMI has been the subject of a number of analyst reports. Stifel Nicolaus set a $224.00 price objective on Badger Meter in a research note on Wednesday, July 23rd. Robert W. Baird increased their price objective on Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. initiated coverage on Badger Meter in a research note on Tuesday, September 9th. They set an "overweight" rating and a $230.00 price objective for the company. Royal Bank Of Canada dropped their price objective on Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Finally, Raymond James Financial initiated coverage on Badger Meter in a research note on Tuesday, June 3rd. They set a "market perform" rating for the company. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Badger Meter has an average rating of "Moderate Buy" and a consensus target price of $237.00.

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.

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