Meiji Yasuda Asset Management Co Ltd. Purchases Shares of 42,485 Badger Meter, Inc. $BMI

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Badger Meter, Inc. (NYSE:BMI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 42,485 shares of the scientific and technical instruments company’s stock, valued at approximately $6,304,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BMI. N.E.W. Advisory Services LLC acquired a new stake in shares of Badger Meter during the fourth quarter worth about $25,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Badger Meter by 76.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock worth $26,000 after acquiring an additional 65 shares during the period. Godfrey Financial Associates Inc. purchased a new stake in shares of Badger Meter in the fourth quarter valued at about $27,000. Dunhill Financial LLC purchased a new stake in shares of Badger Meter in the second quarter valued at about $28,000. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Badger Meter during the second quarter worth about $30,000. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Price Performance

Shares of BMI opened at $132.19 on Monday. Badger Meter, Inc. has a 1-year low of $112.09 and a 1-year high of $204.00. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.65. The firm has a 50 day simple moving average of $137.48 and a 200-day simple moving average of $139.06.

Badger Meter (NYSE:BMI) last posted its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The firm had revenue of $220.30 million for the quarter, compared to analyst estimates of $220.59 million. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.Badger Meter’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, August 28th. This represents a $1.76 dividend on an annualized basis and a yield of 1.3%. This is a boost from Badger Meter’s previous quarterly dividend of $0.40. Badger Meter’s dividend payout ratio (DPR) is 37.38%.

Analysts Set New Price Targets

BMI has been the topic of a number of analyst reports. Robert W. Baird set a $167.00 price objective on Badger Meter and gave the company an “outperform” rating in a report on Thursday, July 23rd. Weiss Ratings upgraded Badger Meter from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Royal Bank Of Canada dropped their price objective on Badger Meter from $169.00 to $162.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Wall Street Zen upgraded Badger Meter from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Seaport Research Partners set a $160.00 target price on Badger Meter in a report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Badger Meter presently has a consensus rating of “Hold” and an average price target of $164.00.

Insider Buying and Selling

In other news, VP Edward F. Callahan bought 751 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was purchased at an average price of $135.25 per share, with a total value of $101,572.75. Following the purchase, the vice president owned 1,937 shares of the company’s stock, valued at $261,979.25. This trade represents a 63.32% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Badger Meter Company 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.