KLCM Advisors Inc. Buys New Holdings in Badger Meter, Inc. (NYSE:BMI)

KLCM Advisors Inc. bought a new stake in Badger Meter, Inc. (NYSE:BMI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,600 shares of the scientific and technical instruments company's stock, valued at approximately $304,000.

• Badger Meter Gets an Upgrade—2 Stocks That Could Follow

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rathbones Group PLC lifted its stake in shares of Badger Meter by 11.3% during the first quarter. Rathbones Group PLC now owns 28,539 shares of the scientific and technical instruments company's stock worth $5,430,000 after purchasing an additional 2,900 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Badger Meter by 13.1% during the first quarter. HighTower Advisors LLC now owns 6,725 shares of the scientific and technical instruments company's stock worth $1,279,000 after purchasing an additional 781 shares in the last quarter. Trillium Asset Management LLC acquired a new position in shares of Badger Meter during the first quarter worth about $3,734,000. AGF Management Ltd. lifted its stake in shares of Badger Meter by 136.2% during the first quarter. AGF Management Ltd. now owns 54,048 shares of the scientific and technical instruments company's stock worth $10,283,000 after purchasing an additional 31,169 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Badger Meter by 27.2% during the first quarter. Public Sector Pension Investment Board now owns 93,251 shares of the scientific and technical instruments company's stock worth $17,741,000 after purchasing an additional 19,960 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on BMI. Robert W. Baird boosted their price objective on Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 target price on Badger Meter in a research report on Wednesday, July 23rd. Argus set a $240.00 target price on Badger Meter in a research report on Thursday, April 24th. Raymond James Financial began coverage on Badger Meter in a research report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Finally, Royal Bank Of Canada dropped their target price on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $238.40.

• 3 bullish mid-cap earnings plays for January 2024

Read Our Latest Research Report on Badger Meter

Badger Meter Stock Up 0.6%

Shares of Badger Meter stock opened at $193.44 on Thursday. The firm has a market cap of $5.70 billion, a P/E ratio of 42.14, a P/E/G ratio of 3.38 and a beta of 0.84. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $256.08. The business has a 50-day moving average price of $225.18 and a 200 day moving average price of $217.07.

• Don't Be Fooled By Badger Meter's Rise, There's More To Go

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.02). The firm had revenue of $238.10 million during the quarter, compared to the consensus estimate of $235.38 million. Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The firm's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 earnings per share. As a group, equities research analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. This is a boost from Badger Meter's previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, August 22nd. Badger Meter's dividend payout ratio is currently 29.63%.

Badger Meter Company 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.

Featured Stories

• Five stocks we like better than Badger Meter
• What is the Australian Securities Exchange (ASX)
• Data Centers Create a Bull Case for These Nuclear 3 Stocks
• 5 discounted opportunities for dividend growth investors
• Tesla’s Pennant Just Snapped: Here’s What It Means for the Stock
• Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
• 3 Companies That Will Profit From Trump's Semiconductor Tariffs

Want to see what other hedge funds are holding BMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Badger Meter, Inc. (NYSE:BMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Badger Meter Right Now?

Before you consider Badger Meter, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Badger Meter wasn't on the list.

While Badger Meter currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here