Johnson Financial Group Inc. Invests $930,000 in Badger Meter, Inc. $BMI

Johnson Financial Group Inc. bought a new stake in Badger Meter, Inc. (NYSE:BMI) during the second quarter, HoldingsChannel.com reports. The fund bought 6,270 shares of the scientific and technical instruments company’s stock, valued at approximately $930,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC bought a new position in Badger Meter during the fourth quarter worth about $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 purchasing an additional 65 shares during the period. Godfrey Financial Associates Inc. acquired a new position in shares of Badger Meter in the 4th quarter worth approximately $27,000. Brown Brothers Harriman & Co. lifted its position in shares of Badger Meter by 62.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock worth $33,000 after buying an additional 71 shares during the period. Finally, Dunhill Financial LLC acquired a new stake in Badger Meter in the 2nd quarter valued at $28,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BMI shares. JPMorgan Chase & Co. dropped their price objective on Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Wall Street Zen downgraded shares of Badger Meter from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Zacks Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Stifel Nicolaus set a $170.00 price target on shares of Badger Meter and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Robert W. Baird set a $167.00 price target on shares of Badger Meter and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $164.00.

Badger Meter Stock Performance

Shares of BMI opened at $130.94 on Thursday. The stock has a fifty day moving average price of $137.52 and a two-hundred day moving average price of $139.33. Badger Meter, Inc. has a 52-week low of $112.09 and a 52-week high of $204.00. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 2.30 and a beta of 0.65.

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

Badger Meter Increases Dividend

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

Insider Activity

In related news, VP Edward F. Callahan purchased 751 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were acquired at an average cost of $135.25 per share, with a total value 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 $261,979.25. This trade represents a 63.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

About Badger Meter

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.