Trillium Asset Management LLC Buys Shares of 19,629 Badger Meter, Inc. (NYSE:BMI)

Key Points

• Trillium Asset Management LLC purchased 19,629 shares of Badger Meter, Inc. (NYSE:BMI) valued at approximately $3.73 million, increasing their stake to about 0.07% of the company.
• Badger Meter will pay a quarterly dividend of $0.40 per share, up from the previous $0.34, reflecting the company's commitment to returning value to shareholders.
• Badger Meter's recent earnings report showed an EPS of $1.17, missing estimates, but revenue grew by 9.9% year-over-year, totaling $238.1 million.

Trillium Asset Management LLC purchased a new stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 19,629 shares of the scientific and technical instruments company's stock, valued at approximately $3,734,000. Trillium Asset Management LLC owned approximately 0.07% of Badger Meter at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BMI. Bessemer Group Inc. lifted its position in shares of Badger Meter by 162.5% in 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 period. Heck Capital Advisors LLC bought a new stake in Badger Meter during the 4th quarter valued at about $39,000. Golden State Wealth Management LLC grew its stake in shares of Badger Meter by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock worth $35,000 after acquiring an additional 92 shares during the period. SBI Securities Co. Ltd. grew its stake in shares of Badger Meter by 83.0% in the first quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 88 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in Badger Meter during the first quarter valued at approximately $37,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Trading Down 2.2%

Shares of BMI stock traded down $4.25 during mid-day trading on Friday, reaching $186.83. The stock had a trading volume of 304,901 shares, compared to its average volume of 521,146. The company has a market cap of $5.51 billion, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 3.36 and a beta of 0.84. The business has a 50-day simple moving average of $222.84 and a 200 day simple moving average of $216.82. 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 announced its earnings results 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). The business had revenue of $238.10 million during the quarter, compared to analyst estimates 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 for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 earnings per share. Research analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be given a $0.40 dividend. The ex-dividend date is Friday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend 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 29.63%.

Analyst Ratings Changes

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

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.