Cardinal Capital Management boosted its position in Badger Meter Inc. (NYSE:BMI) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,972 shares of the company’s stock after buying an additional 574 shares during the period. Cardinal Capital Management’s holdings in Badger Meter were worth $728,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. raised its stake in Badger Meter by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 383,549 shares of the company’s stock worth $25,510,000 after buying an additional 8,406 shares during the period. Legal & General Group Plc raised its stake in Badger Meter by 23.6% in the first quarter. Legal & General Group Plc now owns 3,538 shares of the company’s stock worth $235,000 after buying an additional 676 shares during the period. Prudential Financial Inc. raised its stake in Badger Meter by 3.3% in the first quarter. Prudential Financial Inc. now owns 34,997 shares of the company’s stock worth $2,328,000 after buying an additional 1,120 shares during the period. Aperio Group LLC raised its stake in Badger Meter by 1.7% in the first quarter. Aperio Group LLC now owns 18,463 shares of the company’s stock worth $1,228,000 after buying an additional 300 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in Badger Meter by 8.7% in the first quarter. UBS Asset Management Americas Inc. now owns 230,575 shares of the company’s stock worth $15,336,000 after buying an additional 18,505 shares during the period. 39.81% of the stock is currently owned by institutional investors and hedge funds.
Badger Meter Inc. (NYSE:BMI) traded down 0.39% during trading on Tuesday, reaching $33.41. 71,497 shares of the company’s stock were exchanged. Badger Meter Inc. has a 12-month low of $26.40 and a 12-month high of $39.36. The company has a market cap of $972.13 million, a P/E ratio of 30.94 and a beta of 0.63. The stock’s 50-day moving average is $33.46 and its 200-day moving average is $34.99.
Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.65 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.65. The company had revenue of $102.80 million for the quarter, compared to the consensus estimate of $104.54 million. Badger Meter had a net margin of 7.81% and a return on equity of 13.19%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 earnings per share. Analysts predict that Badger Meter Inc. will post $1.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.23 dividend. This is an increase from Badger Meter’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.75%. Badger Meter’s dividend payout ratio (DPR) is presently 42.59%.
Separately, Zacks Investment Research raised shares of Badger Meter from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Wednesday, September 21st. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.30.
In related news, VP William R. A. Bergum sold 2,250 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $65.09, for a total value of $146,452.50. Following the transaction, the vice president now owns 4,432 shares of the company’s stock, valued at $288,478.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Fred J. Begale sold 1,720 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $66.00, for a total transaction of $113,520.00. Following the completion of the transaction, the vice president now directly owns 2,336 shares in the company, valued at approximately $154,176. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.
Badger Meter Company Profile
Badger Meter, Inc is engaged in flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers across the world. The Company’s products, measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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