Badger Meter, Inc. $BMI Stake Increased by Brown Capital Management LLC

Brown Capital Management LLC increased its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 28.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,744 shares of the scientific and technical instruments company’s stock after buying an additional 46,066 shares during the quarter. Badger Meter accounts for approximately 1.5% of Brown Capital Management LLC’s holdings, making the stock its 26th biggest position. Brown Capital Management LLC owned approximately 0.71% of Badger Meter worth $37,456,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BMI. Brighton Jones LLC acquired a new stake in Badger Meter during the 4th quarter worth about $227,000. NewEdge Advisors LLC boosted its holdings in shares of Badger Meter by 328.0% during the first quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company’s stock worth $717,000 after purchasing an additional 2,886 shares during the period. Greenleaf Trust purchased a new position in Badger Meter during the second quarter valued at approximately $202,000. Truist Financial Corp increased its stake in Badger Meter by 4.6% in the 2nd quarter. Truist Financial Corp now owns 24,784 shares of the scientific and technical instruments company’s stock valued at $6,071,000 after buying an additional 1,088 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in Badger Meter in the 2nd quarter worth approximately $265,000. 89.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Robert W. Baird set a $165.00 price target on shares of Badger Meter in a report on Thursday. Jefferies Financial Group lowered their target price on Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $167.00 price target on shares of Badger Meter in a research note on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and set a $191.00 price target (down from $229.00) on shares of Badger Meter in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on Badger Meter from $232.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, January 29th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Badger Meter currently has a consensus rating of “Hold” and a consensus price target of $181.88.

Badger Meter Stock Performance

Shares of BMI stock opened at $151.67 on Tuesday. The stock’s 50 day simple moving average is $174.24 and its 200 day simple moving average is $180.49. Badger Meter, Inc. has a twelve month low of $139.14 and a twelve month high of $256.08. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.33 and a beta of 0.90.

Badger Meter (NYSE:BMI) last announced its earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.The company had revenue of $220.71 million for the quarter, compared to the consensus estimate of $232.30 million. During the same period in the previous year, the company earned $1.04 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were paid a $0.40 dividend. The ex-dividend date was Friday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. Badger Meter’s dividend payout ratio (DPR) is presently 33.33%.

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.