Rice Hall James & Associates LLC Makes New Investment in Badger Meter, Inc. $BMI

Key Points

• Rice Hall James & Associates acquired 20,293 Badger Meter shares worth approximately $3.0 million, while institutional investors collectively own 89.01% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $164 price target; five analysts rate the stock Buy, five Hold, and one Sell.
• Badger Meter narrowly exceeded quarterly EPS expectations, but revenue fell 6.6% year over year. The company raised its quarterly dividend to $0.44, implying a 1.4% annualized yield.

Rice Hall James & Associates LLC acquired a new stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,293 shares of the scientific and technical instruments company's stock, valued at approximately $3,011,000. Rice Hall James & Associates LLC owned about 0.07% of Badger Meter at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BMI. N.E.W. Advisory Services LLC acquired a new position in shares of Badger Meter in the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd boosted its position in Badger Meter by 76.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company's stock valued at $26,000 after buying an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. acquired a new position in Badger Meter in the 4th quarter worth approximately $27,000. Brown Brothers Harriman & Co. raised its position in Badger Meter by 62.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company's stock worth $33,000 after buying an additional 71 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Badger Meter during the 2nd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BMI. Robert W. Baird set a $167.00 target price on shares of Badger Meter and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Royal Bank Of Canada cut their price target on Badger Meter from $169.00 to $162.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Wall Street Zen cut Badger Meter from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. Barclays reaffirmed an "underweight" rating and set a $112.00 target price (up from $109.00) on shares of Badger Meter in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. decreased their price target on Badger Meter from $172.00 to $170.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Badger Meter presently has a consensus rating of "Hold" and a consensus price target of $164.00.

Insider Buying and Selling

In related news, VP Edward F. Callahan acquired 751 shares of Badger Meter stock in a transaction on Thursday, July 30th. The stock was bought at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the transaction, the vice president owned 1,937 shares of the company's stock, valued at approximately $261,979.25. The trade was a 63.32% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.00% of the company's stock.

Badger Meter Stock Down 1.7%

BMI stock opened at $128.55 on Tuesday. Badger Meter, Inc. has a 52-week low of $112.09 and a 52-week high of $204.00. The firm has a market cap of $3.73 billion, a P/E ratio of 30.04, a PEG ratio of 2.39 and a beta of 0.65. The company's 50-day simple moving average is $137.56 and its 200-day simple moving average is $139.57.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.01. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The company had revenue of $220.30 million during the quarter, compared to analysts' expectations of $220.59 million. During the same quarter in the prior year, the firm posted $1.17 EPS. Badger Meter's quarterly revenue was down 6.6% compared to the same quarter last year. On average, analysts anticipate that Badger Meter, Inc. will post 4.43 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.76 dividend on an annualized basis and a yield of 1.4%. This is an increase from Badger Meter's previous quarterly dividend of $0.40. Badger Meter's dividend payout ratio is 37.38%.

Badger Meter Company 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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