Grandeur Peak Global Advisors LLC Purchases Shares of 29,334 Badger Meter, Inc. $BMI

Grandeur Peak Global Advisors LLC acquired a new position in shares of Badger Meter, Inc. (NYSE:BMI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 29,334 shares of the scientific and technical instruments company’s stock, valued at approximately $4,353,000. Badger Meter accounts for about 0.9% of Grandeur Peak Global Advisors LLC’s holdings, making the stock its 28th biggest position.

A number of other institutional investors also recently modified their holdings of the stock. XXEC Inc. acquired a new position in Badger Meter during the 2nd quarter worth approximately $825,029,000. BlackRock Inc. bought a new stake in Badger Meter during the 2nd quarter worth approximately $725,926,000. Norges Bank bought a new stake in Badger Meter during the 4th quarter worth approximately $83,819,000. Bank of America Corp DE purchased a new stake in shares of Badger Meter in the second quarter worth approximately $68,344,000. Finally, UBS Group AG raised its stake in shares of Badger Meter by 89.2% in the fourth quarter. UBS Group AG now owns 712,650 shares of the scientific and technical instruments company’s stock worth $124,293,000 after purchasing an additional 335,953 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Insider Activity

In other news, VP Edward F. Callahan purchased 751 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were purchased at an average price of $135.25 per share, with a total value of $101,572.75. Following the transaction, the vice president directly owned 1,937 shares of the company’s stock, valued at approximately $261,979.25. This represents a 63.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BMI. JPMorgan Chase & Co. decreased their price target on Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Zacks Research upgraded Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen raised shares of Badger Meter from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Barclays reiterated an “underweight” rating and issued a $112.00 target price (up from $109.00) on shares of Badger Meter in a research note on Tuesday, July 28th. Finally, Stifel Nicolaus set a $170.00 target price on shares of Badger Meter and gave the company a “buy” rating in a report on Monday, July 20th. Five research 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.com, Badger Meter presently has an average rating of “Hold” and a consensus price target of $164.00.

Badger Meter Stock Up 0.8%

BMI opened at $138.20 on Friday. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 2.46 and a beta of 0.65. Badger Meter, Inc. has a twelve month low of $112.09 and a twelve month high of $204.00. The company’s 50-day moving average price is $137.63 and its two-hundred day moving average price is $138.76.

Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.01. The company had revenue of $220.30 million during the quarter, compared to analyst estimates of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. Badger Meter’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. As a group, sell-side analysts anticipate that Badger Meter, Inc. will post 4.5 earnings per share for the current year.

Badger Meter Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a $0.44 dividend. The ex-dividend date is Friday, August 28th. This is a boost from Badger Meter’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.3%. Badger Meter’s dividend payout ratio is presently 41.12%.

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.