Summit Financial LLC Invests $2.81 Million 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 purchased a new position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC acquired a new position in Badger Meter in the 4th quarter valued at approximately $227,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Badger Meter in the 4th quarter worth approximately $377,000. MetLife Investment Management LLC increased its holdings in Badger Meter by 6.1% during the 4th quarter. MetLife Investment Management LLC now owns 17,661 shares of the scientific and technical instruments company's stock valued at $3,746,000 after purchasing an additional 1,022 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Badger Meter by 7.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,221 shares of the scientific and technical instruments company's stock valued at $259,000 after purchasing an additional 81 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its holdings in Badger Meter by 929.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,316 shares of the scientific and technical instruments company's stock valued at $491,000 after purchasing an additional 2,091 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Analyst Upgrades and Downgrades

BMI has been the topic of a number of recent research reports. Argus set a $240.00 price objective on Badger Meter in a research report on Thursday, April 24th. Robert W. Baird boosted 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. Royal Bank Of Canada decreased their target price 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. Raymond James Financial initiated coverage on Badger Meter in a report on Tuesday, June 3rd. They set a "market perform" rating for the company. Finally, Stifel Nicolaus set a $224.00 price objective on Badger Meter in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $238.40.

Badger Meter Price Performance

Badger Meter stock opened at $183.25 on Friday. The stock's fifty day moving average price is $218.03 and its two-hundred day moving average price is $216.12. Badger Meter, Inc. has a one year low of $162.17 and a one year high of $256.08. The firm has a market cap of $5.40 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 3.30 and a beta of 0.84.

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 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 company had revenue of $238.10 million for the quarter, compared to the consensus estimate of $235.38 million. During the same quarter last year, the business earned $1.12 EPS. Badger Meter's revenue was up 9.9% on a year-over-year basis. Sell-side analysts expect that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

The firm 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 of this dividend is Friday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Badger Meter's previous quarterly dividend of $0.34. Badger Meter's dividend payout ratio (DPR) is 29.63%.

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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