VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $4.10 Million Investment in Badger Meter, Inc. $BMI

Key Points

• Virginia Retirement Systems acquired 27,650 Badger Meter shares worth approximately $4.1 million, while institutional investors collectively owned 89.01% of the company.
• Badger Meter reported quarterly EPS of $1.02, slightly exceeding estimates, but revenue declined 6.6% year over year to $220.3 million. Shares opened at $127.52, well below their 52-week high of $204.
• The company raised its quarterly dividend from $0.40 to $0.44 per share, representing an annualized dividend of $1.76 and a 1.4% yield. Analysts’ consensus rating remains “Hold,” with a target price of $164.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Badger Meter, Inc. (NYSE:BMI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 27,650 shares of the scientific and technical instruments company's stock, valued at approximately $4,103,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.10% of Badger Meter as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. XXEC Inc. bought a new stake in Badger Meter during the 2nd quarter valued at approximately $825,029,000. California State Teachers Retirement System increased its position in Badger Meter by 14,467.6% in the 2nd quarter. California State Teachers Retirement System now owns 4,980,820 shares of the scientific and technical instruments company's stock worth $739,054,000 after buying an additional 4,946,629 shares during the period. BlackRock Inc. acquired a new position in shares of Badger Meter during the second quarter worth approximately $725,926,000. State Street Corp boosted its position in shares of Badger Meter by 1.4% in the second quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company's stock valued at $358,315,000 after acquiring an additional 20,122 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Badger Meter by 20.9% in the third quarter. Invesco Ltd. now owns 970,219 shares of the scientific and technical instruments company's stock valued at $173,262,000 after acquiring an additional 168,053 shares during the period. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Price Performance

Shares of Badger Meter stock opened at $127.52 on Thursday. Badger Meter, Inc. has a 52-week low of $112.09 and a 52-week high of $204.00. The firm has a market capitalization of $3.70 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 3.17 and a beta of 0.65. The company's fifty day moving average price is $136.52 and its two-hundred day moving average price is $137.22.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.01. The company had revenue of $220.30 million during the quarter, compared to the consensus estimate of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the firm earned $1.17 EPS. Analysts predict that Badger Meter, Inc. will post 4.5 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.44 per share. This is a positive change from Badger Meter's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 28th. Badger Meter's dividend payout ratio is 41.12%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Robert W. Baird set a $167.00 target price on shares of Badger Meter and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Royal Bank Of Canada decreased their price target on shares of Badger Meter from $169.00 to $162.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Barclays restated an "underweight" rating and set a $112.00 price objective (up from $109.00) on shares of Badger Meter in a report on Tuesday, July 28th. Seaport Research Partners set a $160.00 price objective on shares of Badger Meter in a research report on Thursday, July 23rd. Finally, Stifel Nicolaus set a $170.00 target price on shares of Badger Meter and gave the company a "buy" rating in a research note on Monday, July 20th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $164.00.

Insiders Place Their Bets

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

Badger Meter 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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