XXEC Inc. Invests $825.03 Million in Badger Meter, Inc. $BMI

Key Points

• XXEC Inc. acquired approximately 104.7 million Badger Meter shares worth $825.03 million in the second quarter, making BMI its 12th-largest portfolio holding; institutional investors collectively own 89.01% of the company.
• Analyst sentiment is mixed but leans neutral: five analysts rate the stock Buy, five Hold, and one Sell, with a consensus price target of $164 versus a recent price of $132.19.
• Badger Meter slightly exceeded quarterly earnings expectations with $1.02 EPS, though revenue fell 6.6% year over year. The company also raised its quarterly dividend to $0.44 per share, implying a 1.3% annual yield.

XXEC Inc. acquired a new position in Badger Meter, Inc. (NYSE:BMI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 104,700,207 shares of the scientific and technical instruments company's stock, valued at approximately $825,029,000. Badger Meter makes up 0.4% of XXEC Inc.'s portfolio, making the stock its 12th largest position. XXEC Inc. owned about 361.16% of Badger Meter at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BMI. Norwood Investment Partners LP acquired a new position in Badger Meter in the 2nd quarter valued at approximately $3,412,740,000. Allworth Financial LP purchased a new stake in shares of Badger Meter during the 2nd quarter worth about $46,000. Trillium Asset Management LLC bought a new stake in shares of Badger Meter in the 2nd quarter valued at approximately $3,751,000. Frazier Financial Advisors LLC bought a new position in Badger Meter during the second quarter valued at approximately $30,000. Finally, Johnson Financial Group Inc. bought a new stake in Badger Meter in the second quarter worth approximately $930,000. Institutional investors and hedge funds own 89.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BMI. Zacks Research upgraded Badger Meter from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Robert W. Baird set a $167.00 price objective on shares of Badger Meter and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Royal Bank Of Canada lowered their target price on shares of Badger Meter from $169.00 to $162.00 and set an "outperform" rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of Badger Meter from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 28th. Finally, Seaport Research Partners set a $160.00 target price on shares of Badger Meter in a research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Badger Meter currently has an average rating of "Hold" and a consensus target price of $164.00.

Badger Meter Stock Up 3.2%

Shares of NYSE BMI opened at $132.19 on Friday. The business's 50 day moving average is $137.48 and its two-hundred day moving average is $139.15. The company has a market cap of $3.83 billion, a P/E ratio of 30.89, a P/E/G ratio of 2.41 and a beta of 0.65. Badger Meter, Inc. has a 12 month low of $112.09 and a 12 month high of $204.00.

Badger Meter (NYSE:BMI - Get Free Report) last issued its quarterly earnings results 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. 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 analyst estimates of $220.59 million. During the same period in the previous year, the company earned $1.17 earnings per share. The company's quarterly revenue was down 6.6% compared to the same quarter last year. Sell-side analysts expect that Badger Meter, Inc. will post 4.43 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, August 28th. This is an increase from Badger Meter's previous quarterly dividend of $0.40. Badger Meter's dividend payout ratio is currently 37.38%.

Insiders Place Their Bets

In related news, VP Edward F. Callahan purchased 751 shares of Badger Meter stock in a transaction on Thursday, July 30th. The stock was purchased at an average cost of $135.25 per share, with a total value of $101,572.75. Following the acquisition, the vice president directly owned 1,937 shares in the company, valued at approximately $261,979.25. This trade represents a 63.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

About Badger Meter

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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