Fifth Third Wealth Advisors LLC Purchases New Position in Badger Meter, Inc. $BMI

Fifth Third Wealth Advisors LLC purchased a new stake in Badger Meter, Inc. (NYSE:BMI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 981 shares of the scientific and technical instruments company’s stock, valued at approximately $240,000.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its holdings in Badger Meter by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 92 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of Badger Meter by 83.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 88 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Badger Meter in the 1st quarter worth $37,000. Olde Wealth Management LLC purchased a new position in Badger Meter in the 1st quarter worth $41,000. Finally, Global X Japan Co. Ltd. purchased a new position in Badger Meter in the 1st quarter worth $45,000. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Up 1.1%

Shares of NYSE BMI opened at $179.17 on Wednesday. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 3.14 and a beta of 0.90. Badger Meter, Inc. has a 52-week low of $162.17 and a 52-week high of $256.08. The business’s 50 day moving average is $181.71 and its two-hundred day moving average is $208.86.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.02). The business had revenue of $238.10 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. Analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Stifel Nicolaus set a $224.00 price target on Badger Meter in a research report on Wednesday, July 23rd. Weiss Ratings lowered shares of Badger Meter from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada decreased their price target on shares of Badger Meter from $284.00 to $264.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 23rd. Zacks Research raised shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Badger Meter in a research note on Tuesday, September 9th. They issued an “overweight” rating and a $230.00 target price on the stock. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $237.00.

Badger Meter 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.