Belpointe Asset Management LLC Buys 56 Shares of Badger Meter, Inc. $BMI

Belpointe Asset Management LLC increased its position in Badger Meter, Inc. (NYSE:BMI) by 0.0% during the second quarter, HoldingsChannel.com reports. The fund owned 179,017 shares of the scientific and technical instruments company’s stock after acquiring an additional 56 shares during the quarter. Badger Meter accounts for approximately 1.8% of Belpointe Asset Management LLC’s holdings, making the stock its 8th largest holding. Belpointe Asset Management LLC’s holdings in Badger Meter were worth $43,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in BMI. Westfield Capital Management Co. LP acquired a new position in shares of Badger Meter during the 1st quarter worth approximately $65,448,000. Nuveen LLC acquired a new stake in shares of Badger Meter during the first quarter valued at $44,715,000. Invesco Ltd. raised its stake in Badger Meter by 25.9% in the 1st quarter. Invesco Ltd. now owns 630,891 shares of the scientific and technical instruments company’s stock valued at $120,027,000 after purchasing an additional 129,945 shares during the last quarter. Jane Street Group LLC lifted its holdings in Badger Meter by 1,451.3% in the 1st quarter. Jane Street Group LLC now owns 134,715 shares of the scientific and technical instruments company’s stock valued at $25,630,000 after purchasing an additional 126,031 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Badger Meter by 1,239.4% during the 1st quarter. Millennium Management LLC now owns 128,961 shares of the scientific and technical instruments company’s stock worth $24,535,000 after purchasing an additional 119,333 shares during the last quarter. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BMI. Robert W. Baird upped their price objective on shares of Badger Meter from $216.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Badger Meter in a report on Saturday, September 27th. JPMorgan Chase & Co. started coverage on shares of Badger Meter in a research report on Tuesday, September 9th. They issued an “overweight” rating and a $230.00 target price on the stock. Zacks Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a report on Monday, September 22nd. Finally, 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 report on Wednesday, July 23rd. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $237.00.

Badger Meter Stock Performance

Badger Meter stock opened at $180.93 on Monday. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 39.42, a price-to-earnings-growth ratio of 3.20 and a beta of 0.90. Badger Meter, Inc. has a 1 year low of $162.17 and a 1 year high of $256.08. The firm’s 50 day moving average price is $183.13 and its two-hundred day moving average price is $209.72.

Badger Meter (NYSE:BMI) last released its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.02). The company had revenue of $238.10 million for the quarter, compared to the consensus estimate of $235.38 million. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The business’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 earnings per share. As a group, equities analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, August 22nd. This is a boost from Badger Meter’s previous quarterly dividend of $0.34. Badger Meter’s dividend payout ratio is presently 34.86%.

Badger Meter Company Profile

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.