626 Financial LLC Acquires Shares of 880 Badger Meter, Inc. $BMI

626 Financial LLC acquired a new stake in shares of Badger Meter, Inc. (NYSE:BMI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 880 shares of the scientific and technical instruments company’s stock, valued at approximately $216,000.

Several other large investors also recently modified their holdings of BMI. QRG Capital Management Inc. purchased a new position in Badger Meter during the 2nd quarter valued at about $265,000. River Street Advisors LLC grew its position in shares of Badger Meter by 6.0% in the 2nd quarter. River Street Advisors LLC now owns 5,233 shares of the scientific and technical instruments company’s stock worth $1,282,000 after buying an additional 294 shares during the last quarter. Tower View Wealth Management LLC increased its stake in shares of Badger Meter by 0.5% during the second quarter. Tower View Wealth Management LLC now owns 14,746 shares of the scientific and technical instruments company’s stock valued at $3,612,000 after buying an additional 73 shares during the period. Consolidated Planning Corp increased its stake in shares of Badger Meter by 11.5% during the second quarter. Consolidated Planning Corp now owns 7,084 shares of the scientific and technical instruments company’s stock valued at $1,735,000 after buying an additional 729 shares during the period. Finally, Truist Financial Corp raised its holdings in shares of Badger Meter by 4.6% during the second quarter. Truist Financial Corp now owns 24,784 shares of the scientific and technical instruments company’s stock valued at $6,071,000 after acquiring an additional 1,088 shares in the last quarter. 89.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on BMI. Robert W. Baird lifted their price target on shares of Badger Meter from $216.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Badger Meter in a research note on Saturday, September 27th. Royal Bank Of Canada reduced their price target on shares of Badger Meter from $284.00 to $264.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. initiated coverage on shares of Badger Meter in a research note on Tuesday, September 9th. They issued an “overweight” rating and a $230.00 price target for the company. Finally, Stifel Nicolaus set a $224.00 price objective on Badger Meter in a research report on Wednesday, July 23rd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.00.

Badger Meter Price Performance

Shares of Badger Meter stock opened at $180.93 on Tuesday. Badger Meter, Inc. has a 1 year low of $162.17 and a 1 year high of $256.08. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 39.42, a PEG ratio of 3.20 and a beta of 0.90. The company has a 50-day moving average of $182.88 and a 200 day moving average of $209.66.

Badger Meter (NYSE:BMI) last posted 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 for the quarter, compared to the consensus estimate of $235.38 million. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The company’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS. On average, equities analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, August 22nd. This is an increase from Badger Meter’s previous quarterly dividend of $0.34. Badger Meter’s dividend payout ratio (DPR) is currently 34.86%.

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.