Norden Group LLC Buys 70 Shares of Badger Meter, Inc. $BMI

Norden Group LLC grew its position in Badger Meter, Inc. (NYSE:BMI) by 2.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,459 shares of the scientific and technical instruments company’s stock after buying an additional 70 shares during the period. Norden Group LLC’s holdings in Badger Meter were worth $602,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC boosted its stake in Badger Meter by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 92 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in Badger Meter by 83.0% in the first quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company’s stock valued at $37,000 after acquiring an additional 88 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Badger Meter in the first quarter valued at approximately $37,000. Olde Wealth Management LLC acquired a new stake in Badger Meter in the first quarter valued at approximately $41,000. Finally, Global X Japan Co. Ltd. acquired a new stake in shares of Badger Meter in the 1st quarter worth $45,000. 89.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BMI. Royal Bank Of Canada lowered their price objective on Badger Meter from $284.00 to $264.00 and set an “outperform” rating for the company in a research report on Wednesday, July 23rd. Zacks Research raised Badger Meter from a “strong sell” rating to a “hold” rating in a report on Monday. Raymond James Financial initiated coverage on shares of Badger Meter in a research note on Tuesday, June 3rd. They issued a “market perform” rating for the company. JPMorgan Chase & Co. assumed 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 for the company. Finally, Stifel Nicolaus set a $224.00 price objective on shares of Badger Meter in a research note on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Badger Meter presently has a consensus rating of “Hold” and an average target price of $237.00.

Badger Meter Trading Up 1.6%

Shares of BMI stock opened at $175.13 on Friday. The company has a market capitalization of $5.16 billion, a P/E ratio of 38.15, a P/E/G ratio of 3.05 and a beta of 0.87. The business’s 50 day moving average is $187.14 and its two-hundred day moving average is $210.43. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $256.08.

Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.02). The company had revenue of $238.10 million for the quarter, compared to analysts’ expectations of $235.38 million. Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 earnings per share. On average, research analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

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

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.