Grandeur Peak Global Advisors LLC Acquires 25,445 Shares of Badger Meter, Inc. $BMI

Grandeur Peak Global Advisors LLC increased its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 654.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 29,334 shares of the scientific and technical instruments company’s stock after acquiring an additional 25,445 shares during the period. Badger Meter comprises 1.1% of Grandeur Peak Global Advisors LLC’s portfolio, making the stock its 22nd biggest position. Grandeur Peak Global Advisors LLC’s holdings in Badger Meter were worth $4,353,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Fundsmith LLP grew its position in Badger Meter by 22.6% in the 2nd quarter. Fundsmith LLP now owns 174,627 shares of the scientific and technical instruments company’s stock valued at $25,911,000 after acquiring an additional 32,136 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Badger Meter during the second quarter worth $683,000. Benjamin Edwards Inc. lifted its position in shares of Badger Meter by 2.4% during the second quarter. Benjamin Edwards Inc. now owns 3,680 shares of the scientific and technical instruments company’s stock worth $546,000 after purchasing an additional 88 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Badger Meter by 7,734.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 56,724 shares of the scientific and technical instruments company’s stock valued at $8,417,000 after purchasing an additional 56,000 shares during the period. Finally, Empowered Funds LLC bought a new position in shares of Badger Meter in the second quarter worth about $652,000. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Stifel Nicolaus set a $170.00 price target on shares of Badger Meter and gave the stock a “buy” rating in a research note on Monday, July 20th. Weiss Ratings raised shares of Badger Meter from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Badger Meter from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Royal Bank Of Canada reduced their price target on shares of Badger Meter from $169.00 to $162.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. cut their target price on Badger Meter from $172.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Badger Meter currently has a consensus rating of “Hold” and a consensus price target of $164.00.

Insider Buying and Selling at Badger Meter

In related news, VP Edward F. Callahan acquired 751 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were purchased at an average price of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the acquisition, the vice president directly owned 1,937 shares in the company, valued at $261,979.25. The trade was a 63.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Badger Meter Trading Up 0.1%

Shares of BMI opened at $135.68 on Monday. Badger Meter, Inc. has a 12 month low of $112.09 and a 12 month high of $204.00. The stock has a fifty day moving average price of $137.64 and a 200-day moving average price of $138.66. The firm has a market cap of $3.93 billion, a PE ratio of 31.70 and a beta of 0.65.

Badger Meter (NYSE:BMI) last announced its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.01. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The firm had revenue of $220.30 million for the quarter, compared to the consensus estimate of $220.59 million. During the same period in the previous year, the business earned $1.17 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, research analysts forecast that Badger Meter, Inc. will post 4.5 EPS for the current 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 issued a $0.44 dividend. This is a boost from Badger Meter’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 28th. Badger Meter’s dividend payout ratio is 41.12%.

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.