3,832 Shares in Badger Meter, Inc. $BMI Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC bought a new position in shares of Badger Meter, Inc. (NYSE:BMI) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,832 shares of the scientific and technical instruments company’s stock, valued at approximately $569,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Badger Meter in the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd grew its stake 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 valued at $26,000 after buying an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. acquired a new position in Badger Meter in the 4th quarter valued at $27,000. Brown Brothers Harriman & Co. raised its holdings in Badger Meter by 62.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 71 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Badger Meter in the 2nd quarter worth $49,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

Wall Street Analysts Forecast Growth

BMI has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Badger Meter from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Wall Street Zen lowered Badger Meter from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. JPMorgan Chase & Co. cut their price objective on Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Stifel Nicolaus set a $170.00 target price on Badger Meter and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Barclays reaffirmed an “underweight” rating and issued a $112.00 target price (up from $109.00) on shares of Badger Meter in a report on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $164.00.

Badger Meter Price Performance

NYSE:BMI opened at $130.94 on Thursday. Badger Meter, Inc. has a one year low of $112.09 and a one year high of $204.00. The company has a fifty day moving average price of $137.52 and a 200 day moving average price of $139.33. The stock has a market cap of $3.80 billion, a P/E ratio of 30.59, a PEG ratio of 2.30 and a beta of 0.65.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.01. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. The company had revenue of $220.30 million for the quarter, compared to analyst estimates of $220.59 million. During the same period last year, the business posted $1.17 EPS. The business’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that Badger Meter, Inc. will post 4.43 EPS for the current year.

Badger Meter Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.3%. This is a boost from Badger Meter’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, August 28th. Badger Meter’s dividend payout ratio (DPR) is 37.38%.

Insiders Place Their Bets

In other news, VP Edward F. Callahan purchased 751 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were 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 approximately $261,979.25. The trade was a 63.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently 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.