Rathbones Group PLC Purchases 2,900 Shares of Badger Meter, Inc. (NYSE:BMI)

Key Points

• Rathbones Group PLC increased its holdings in Badger Meter, owning 28,539 shares after acquiring an additional 2,900, raising its position by 11.3% during Q1.
• Badger Meter has increased its quarterly dividend to $0.40, up from $0.34, representing an annualized yield of 0.8%.
• The company's recent earnings report indicated a net margin of 15.53% and a revenue increase of 9.9% year-over-year, although it missed analyst EPS estimates.

Rathbones Group PLC grew its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 11.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,539 shares of the scientific and technical instruments company's stock after buying an additional 2,900 shares during the period. Rathbones Group PLC owned 0.10% of Badger Meter worth $5,430,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in Badger Meter by 162.5% during the 4th quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock worth $31,000 after purchasing an additional 91 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Badger Meter by 100.0% during 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 purchasing an additional 92 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in Badger Meter by 83.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 88 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in Badger Meter during the 1st quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in Badger Meter during the 4th quarter worth approximately $39,000. 89.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BMI shares. Argus set a $240.00 price target on Badger Meter in a report on Thursday, April 24th. Royal Bank Of Canada lowered their price objective on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 price objective on Badger Meter in a research note on Wednesday, July 23rd. Raymond James Financial assumed coverage on Badger Meter in a research note on Tuesday, June 3rd. They set a "market perform" rating on the stock. Finally, Robert W. Baird raised their price objective on Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $238.40.

Badger Meter Stock Down 2.2%

Shares of BMI traded down $4.25 during midday trading on Friday, hitting $186.83. The company's stock had a trading volume of 304,901 shares, compared to its average volume of 521,146. Badger Meter, Inc. has a one year low of $162.17 and a one year high of $256.08. The company's fifty day simple moving average is $222.84 and its two-hundred day simple moving average is $216.88. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 40.70, a price-to-earnings-growth ratio of 3.29 and a beta of 0.84.

Badger Meter (NYSE:BMI - Get Free Report) last issued its quarterly earnings results 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). Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The business had revenue of $238.10 million during the quarter, compared to the consensus estimate of $235.38 million. During the same quarter in the previous year, the business posted $1.12 EPS. The company's revenue for the quarter was up 9.9% on a year-over-year basis. On average, research analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Increases Dividend

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

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.