Northwestern Mutual Wealth Management Co. Purchases New Position in Badger Meter, Inc. $BMI

Northwestern Mutual Wealth Management Co. acquired a new position in shares of Badger Meter, Inc. (NYSE:BMI) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 56,724 shares of the scientific and technical instruments company’s stock, valued at approximately $8,417,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS acquired a new position in shares of Badger Meter during the first quarter worth $1,447,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Badger Meter in the 4th quarter valued at $2,126,000. Bessemer Group Inc. boosted its holdings in shares of Badger Meter by 14.1% during the 4th quarter. Bessemer Group Inc. now owns 166,407 shares of the scientific and technical instruments company’s stock valued at $29,023,000 after acquiring an additional 20,624 shares in the last quarter. Capital Innovations LLC acquired a new stake in shares of Badger Meter during the 4th quarter valued at $6,867,000. Finally, Handelsbanken Fonder AB grew its position in Badger Meter by 113.9% during the 4th quarter. Handelsbanken Fonder AB now owns 95,662 shares of the scientific and technical instruments company’s stock worth $16,684,000 after acquiring an additional 50,949 shares during the last quarter. Institutional investors own 89.01% of the company’s stock.

Insider Activity at Badger Meter

In related news, VP Edward F. Callahan purchased 751 shares of Badger Meter 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 transaction, the vice president owned 1,937 shares of the company’s stock, valued at approximately $261,979.25. This represents a 63.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BMI shares. JPMorgan Chase & Co. lowered their target price on Badger Meter from $172.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Robert W. Baird set a $167.00 price target on Badger Meter and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Zacks Research raised Badger Meter from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Seaport Research Partners set a $160.00 price target on Badger Meter in a report on Thursday, July 23rd. Finally, Wall Street Zen raised Badger Meter from a “sell” rating to a “hold” rating in a research note on Saturday. Five equities 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 stock. According to MarketBeat, Badger Meter currently has a consensus rating of “Hold” and an average price target of $164.00.

Badger Meter Stock Performance

Shares of NYSE:BMI opened at $132.19 on Monday. The firm has a market cap of $3.83 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.65. The firm’s fifty day moving average is $137.48 and its 200-day moving average is $139.06. Badger Meter, Inc. has a 52 week low of $112.09 and a 52 week high of $204.00.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The business 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%.Badger Meter’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. Sell-side analysts forecast that Badger Meter, Inc. will post 4.43 EPS for the current year.

Badger Meter Increases Dividend

The business also recently declared 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 is a boost from Badger Meter’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, August 28th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.3%. Badger Meter’s dividend payout ratio is presently 37.38%.

Badger Meter Company 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.