XXEC Inc. Makes New Investment in Badger Meter, Inc. $BMI

XXEC Inc. purchased a new stake in Badger Meter, Inc. (NYSE:BMI) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 204,736 shares of the scientific and technical instruments company’s stock, valued at approximately $26,030,000. Badger Meter makes up approximately 0.0% of XXEC Inc.’s portfolio, making the stock its 19th largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of Badger Meter by 76.5% during 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 acquiring an additional 65 shares in the last quarter. Godfrey Financial Associates Inc. acquired a new stake in shares of Badger Meter during the fourth quarter worth $27,000. Dunhill Financial LLC purchased a new stake in shares of Badger Meter during the second quarter valued at $28,000. Frazier Financial Advisors LLC purchased a new stake in shares of Badger Meter during the second quarter valued at $30,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of 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 valued at $33,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 89.01% of the company’s stock.

Badger Meter Trading Up 0.8%

NYSE:BMI opened at $138.20 on Friday. The business’s fifty day moving average price is $137.63 and its 200 day moving average price is $138.76. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 2.46 and a beta of 0.65. Badger Meter, Inc. has a 1-year low of $112.09 and a 1-year high of $204.00.

Badger Meter (NYSE:BMI) last released its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. The company had revenue of $220.30 million for the quarter, compared to analysts’ expectations of $220.59 million. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%.The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 EPS. Equities analysts forecast that Badger Meter, Inc. will post 4.5 earnings per share for the current year.

Badger Meter Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 28th. This is a boost from Badger Meter’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.3%. Badger Meter’s payout ratio is presently 41.12%.

Insider Buying and Selling

In related news, VP Edward F. Callahan acquired 751 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were purchased at an average price of $135.25 per share, for a total transaction of $101,572.75. Following the purchase, the vice president owned 1,937 shares in the company, valued at $261,979.25. This represents a 63.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BMI shares. Wall Street Zen raised Badger Meter from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Stifel Nicolaus set a $170.00 target price on shares of Badger Meter and gave the stock a “buy” rating in a report on Monday, July 20th. Barclays reissued an “underweight” rating and issued a $112.00 target price (up from $109.00) on shares of Badger Meter in a research report on Tuesday, July 28th. Royal Bank Of Canada cut their price target on shares of Badger Meter from $169.00 to $162.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $164.00.

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.