211,253 Shares in Badger Meter, Inc. $BMI Purchased by Legal & General Group Plc

Legal & General Group Plc purchased a new position in shares of Badger Meter, Inc. (NYSE:BMI) in the second quarter, HoldingsChannel reports. The institutional investor purchased 211,253 shares of the scientific and technical instruments company’s stock, valued at approximately $31,346,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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. bought a new position in shares of Badger Meter during 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. Dunhill Financial LLC acquired a new stake in Badger Meter in the 2nd quarter valued at $28,000. Finally, Frazier Financial Advisors LLC acquired a new stake in Badger Meter in the 2nd quarter valued at $30,000. Institutional investors own 89.01% of the company’s stock.

Badger Meter Price Performance

BMI stock opened at $135.68 on Friday. The business has a fifty day moving average price of $137.64 and a 200 day moving average price of $138.74. Badger Meter, Inc. has a fifty-two week low of $112.09 and a fifty-two week high of $204.00. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 31.70, a P/E/G ratio of 2.48 and a beta of 0.65.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.01. The firm had revenue of $220.30 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. On average, equities analysts expect that Badger Meter, Inc. will post 4.5 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, August 28th. This is a boost from Badger Meter’s previous quarterly dividend of $0.40. Badger Meter’s dividend payout ratio is 37.38%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Zacks Research upgraded Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Stifel Nicolaus set a $170.00 target price on shares of Badger Meter and gave the company a “buy” rating in a research note on Monday, July 20th. Wall Street Zen raised shares of Badger Meter from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. JPMorgan Chase & Co. dropped their target price on shares of Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Finally, Seaport Research Partners set a $160.00 price target on shares of Badger Meter in a report on Thursday, July 23rd. 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $164.00.

Insider Buying and Selling at Badger Meter

In related news, VP Edward F. Callahan bought 751 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was bought 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 owned 1,937 shares in the company, valued at approximately $261,979.25. The trade was a 63.32% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.