TFG Advisers LLC Decreases Stock Position in Badger Meter, Inc. $BMI

TFG Advisers LLC decreased its position in Badger Meter, Inc. (NYSE:BMI) by 9.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,152 shares of the scientific and technical instruments company’s stock after selling 226 shares during the quarter. TFG Advisers LLC’s holdings in Badger Meter were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Consolidated Planning Corp lifted its holdings in shares of Badger Meter by 11.5% during the 2nd quarter. Consolidated Planning Corp now owns 7,084 shares of the scientific and technical instruments company’s stock worth $1,735,000 after acquiring an additional 729 shares during the period. Truist Financial Corp grew its position 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 worth $6,071,000 after buying an additional 1,088 shares in the last quarter. Greenleaf Trust bought a new position in Badger Meter during the second quarter worth $202,000. Sage Rhino Capital LLC bought a new position in Badger Meter during the second quarter worth $247,000. Finally, State of Alaska Department of Revenue lifted its stake in Badger Meter by 7.7% during the second quarter. State of Alaska Department of Revenue now owns 17,544 shares of the scientific and technical instruments company’s stock worth $4,296,000 after purchasing an additional 1,247 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BMI shares. Royal Bank Of Canada cut their target price on Badger Meter from $284.00 to $264.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 23rd. Robert W. Baird lifted their target price on Badger Meter from $216.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Zacks Research raised Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, September 22nd. Stifel Nicolaus set a $224.00 price target on Badger Meter in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. initiated coverage on Badger Meter in a research note on Tuesday, September 9th. They set an “overweight” rating and a $230.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Badger Meter has an average rating of “Hold” and an average target price of $237.00.

Badger Meter Trading Down 0.9%

BMI opened at $176.91 on Thursday. The stock’s 50 day simple moving average is $183.58 and its 200-day simple moving average is $209.82. Badger Meter, Inc. has a 1 year low of $162.17 and a 1 year high of $256.08. The stock has a market cap of $5.21 billion, a PE ratio of 38.54, a P/E/G ratio of 3.16 and a beta of 0.90.

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 analysts’ consensus estimates of $1.19 by ($0.02). Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The business had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.38 million. During the same period in the prior year, the firm posted $1.12 EPS. Badger Meter’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts forecast that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal 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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.9%. This is a boost from Badger Meter’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, August 22nd. Badger Meter’s payout ratio is currently 34.86%.

About Badger Meter

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.