VIRGINIA RETIREMENT SYSTEMS ET Al Invests $4.10 Million in Badger Meter, Inc. $BMI

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Badger Meter, Inc. (NYSE:BMI) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 27,650 shares of the scientific and technical instruments company’s stock, valued at approximately $4,103,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its stake in Badger Meter by 76.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock worth $26,000 after buying an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. bought a new position in shares of Badger Meter in the fourth quarter valued at approximately $27,000. Public Employees Retirement System of Ohio acquired a new position in shares of Badger Meter in the 2nd quarter worth approximately $27,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Badger Meter by 62.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 71 shares in the last quarter. Finally, Dunhill Financial LLC bought a new stake in Badger Meter during the 2nd quarter worth approximately $28,000. 89.01% of the stock is owned by institutional investors.

Insider Activity at Badger Meter

In other Badger Meter news, VP Edward Callahan purchased 751 shares of the stock in a transaction dated Thursday, July 30th. The stock was bought at an average price of $135.25 per share, for a total transaction of $101,572.75. Following the transaction, the vice president directly owned 1,937 shares in the company, valued at $261,979.25. This represents a 63.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus set a $170.00 price target on Badger Meter and gave the company a “buy” rating in a report on Monday, July 20th. Robert W. Baird set a $167.00 target price on Badger Meter and gave the stock an “outperform” rating 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. JPMorgan Chase & Co. cut 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. Finally, Barclays reiterated an “underweight” rating and set a $112.00 target price (up from $109.00) on shares of Badger Meter in a research report on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $164.00.

Badger Meter Stock Down 0.9%

Shares of BMI opened at $127.52 on Thursday. The stock’s fifty day simple moving average is $136.52 and its 200-day simple moving average is $137.22. The firm has a market capitalization of $3.70 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 3.17 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) last announced its quarterly earnings data 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. The firm had revenue of $220.30 million during 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%.The company’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the company earned $1.17 earnings per share. Analysts anticipate that Badger Meter, Inc. will post 4.5 EPS for the current year.

Badger Meter Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a $0.44 dividend. This is a boost from Badger Meter’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.76 annualized dividend and a dividend yield of 1.4%. Badger Meter’s payout ratio is 41.12%.

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.