Flputnam Investment Management Co. Makes New $870,000 Investment in Badger Meter, Inc. $BMI

Flputnam Investment Management Co. acquired a new position in Badger Meter, Inc. (NYSE:BMI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,865 shares of the scientific and technical instruments company’s stock, valued at approximately $870,000.

Several other large investors have also made changes to their positions in the business. N.E.W. Advisory Services LLC bought a new stake in Badger Meter during the 4th quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd increased its position in 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 buying an additional 65 shares during the period. Godfrey Financial Associates Inc. acquired a new position in shares of Badger Meter during the fourth quarter worth approximately $27,000. Brown Brothers Harriman & Co. boosted its position in shares of Badger Meter by 62.3% in the third quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 71 shares during the period. Finally, State of Wyoming bought a new stake in shares of Badger Meter in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BMI. Maxim Group lowered shares of Badger Meter from a “buy” rating to a “hold” rating in a research report on Thursday, April 23rd. Zacks Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Barclays reaffirmed an “underweight” rating and set a $112.00 price objective (up from $109.00) on shares of Badger Meter in a research report on Tuesday, July 28th. Robert W. Baird set a $167.00 target price on shares of Badger Meter and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Badger Meter from $172.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Five 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 stock currently has an average rating of “Hold” and an average target price of $164.00.

Badger Meter Stock Performance

NYSE:BMI opened at $128.55 on Tuesday. The company has a 50-day moving average of $137.56 and a 200-day moving average of $139.57. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.39 and a beta of 0.65. Badger Meter, Inc. has a 52 week low of $112.09 and a 52 week high of $204.00.

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 for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The business had revenue of $220.30 million for the quarter, compared to analysts’ expectations of $220.59 million. During the same quarter in the previous year, the firm posted $1.17 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. Sell-side analysts forecast that Badger Meter, Inc. will post 4.43 EPS for the current year.

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Badger Meter’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, August 28th. Badger Meter’s dividend payout ratio (DPR) is currently 37.38%.

Insiders Place Their Bets

In related news, VP Edward F. Callahan acquired 751 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was purchased at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the purchase, the vice president directly owned 1,937 shares of the company’s stock, valued at $261,979.25. The trade was a 63.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

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.