Summit Financial LLC Makes New $2.81 Million Investment in Badger Meter, Inc. $BMI

Key Points

• Summit Financial LLC has invested approximately $2.81 million in Badger Meter, Inc., acquiring 14,768 shares, which account for about 0.05% of the company's stock.
• Badger Meter recently increased its quarterly dividend to $0.40 per share, representing an annualized yield of 0.9%, up from $0.34.
• Analysts have given Badger Meter an average rating of "Hold" with a consensus price target of $238.40, after recent target price adjustments by various firms.

Summit Financial LLC bought a new position in Badger Meter, Inc. (NYSE:BMI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,768 shares of the scientific and technical instruments company's stock, valued at approximately $2,810,000. Summit Financial LLC owned approximately 0.05% of Badger Meter at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in Badger Meter by 25.9% in the 1st quarter. Invesco Ltd. now owns 630,891 shares of the scientific and technical instruments company's stock worth $120,027,000 after buying an additional 129,945 shares in the last quarter. Congress Asset Management Co. lifted its position in shares of Badger Meter by 9.8% during the 1st quarter. Congress Asset Management Co. now owns 398,588 shares of the scientific and technical instruments company's stock valued at $75,831,000 after buying an additional 35,424 shares in the last quarter. Northern Trust Corp lifted its position in shares of Badger Meter by 8.7% during the 4th quarter. Northern Trust Corp now owns 348,476 shares of the scientific and technical instruments company's stock valued at $73,919,000 after buying an additional 27,797 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Badger Meter during the 1st quarter valued at about $65,448,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Badger Meter by 0.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 257,863 shares of the scientific and technical instruments company's stock valued at $49,060,000 after purchasing an additional 1,646 shares during the period. Hedge funds and other institutional investors own 89.01% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank Of Canada decreased their target price 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. Robert W. Baird lifted their target price on Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating 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, Stifel Nicolaus set a $224.00 target price on Badger Meter in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $238.40.

Badger Meter Stock Performance

Badger Meter stock traded up $2.23 during mid-day trading on Wednesday, hitting $187.42. The company's stock had a trading volume of 87,524 shares, compared to its average volume of 277,702. The company has a 50 day moving average of $214.68 and a 200-day moving average of $215.48. The stock has a market cap of $5.52 billion, a PE ratio of 40.79, a P/E/G ratio of 3.26 and a beta of 0.84. Badger Meter, Inc. has a one year low of $162.17 and a one year high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last announced 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). 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 business's revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $1.12 EPS. On average, equities research analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a $0.40 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. This is a positive change from Badger Meter's previous quarterly dividend of $0.34. Badger Meter's dividend payout ratio (DPR) is currently 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.