XXEC Inc. bought a new position in Badger Meter, Inc. (NYSE:BMI – Free Report) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 97,646 shares of the scientific and technical instruments company’s stock, valued at approximately $2,683,000. Badger Meter comprises about 0.5% of XXEC Inc.’s holdings, making the stock its 22nd largest holding.
A number of other institutional investors have also recently bought and sold shares of the stock. N.E.W. Advisory Services LLC acquired a new position in Badger Meter during the fourth quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd raised its stake in Badger Meter by 76.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock worth $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 valued at $27,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Badger Meter by 62.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Finally, Strategic Advocates LLC purchased a new stake in shares of Badger Meter during the 3rd quarter valued at $41,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.
Key Stories Impacting Badger Meter
Here are the key news stories impacting Badger Meter this week:
- Negative Sentiment: Multiple law firms issued reminders and investor alerts about the ongoing class action, increasing legal overhang and uncertainty for BMI shareholders. Article Title
- Negative Sentiment: The core allegations in the lawsuit may weigh on sentiment, including claims that Badger Meter misled investors about demand strength and near-term order trends. Article Title
- Negative Sentiment: One law firm specifically pointed to allegations that prior guidance of “high single-digit” growth was followed by a 9% revenue decline, which could reinforce concerns about execution and reporting credibility. Article Title
Insiders Place Their Bets
Badger Meter Trading Up 7.2%
Shares of Badger Meter stock opened at $148.66 on Wednesday. The company has a fifty day moving average price of $126.04 and a 200 day moving average price of $148.55. Badger Meter, Inc. has a twelve month low of $112.09 and a twelve month high of $249.56. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.49 and a beta of 0.68.
Badger Meter (NYSE:BMI – Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 EPS for the quarter. Badger Meter had a return on equity of 18.76% and a net margin of 14.56%.The company had revenue of $220.71 million for the quarter. Analysts forecast that Badger Meter, Inc. will post 4.51 earnings per share for the current year.
Badger Meter Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Badger Meter’s dividend payout ratio is presently 36.12%.
Analyst Ratings Changes
A number of analysts have recently commented on BMI shares. Maxim Group downgraded Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, April 23rd. Zacks Research cut Badger Meter from a “hold” rating to a “strong sell” rating in a report on Friday, June 5th. Weiss Ratings downgraded Badger Meter from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Wall Street Zen lowered Badger Meter from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, JPMorgan Chase & Co. cut their price objective on Badger Meter from $190.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $155.86.
Read Our Latest Stock Report on Badger Meter
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.
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