Fundsmith LLP Raises Stock Holdings in Badger Meter, Inc. $BMI

Fundsmith LLP boosted its position in shares of Badger Meter, Inc. (NYSE:BMI) by 22.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 174,627 shares of the scientific and technical instruments company’s stock after acquiring an additional 32,136 shares during the quarter. Badger Meter makes up approximately 0.2% of Fundsmith LLP’s holdings, making the stock its 28th biggest holding. Fundsmith LLP’s holdings in Badger Meter were worth $25,911,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its position in shares of Badger Meter by 76.5% in the fourth 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 acquiring an additional 65 shares during the period. Godfrey Financial Associates Inc. purchased a new stake in shares of Badger Meter during the fourth quarter worth about $27,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Badger Meter during the second quarter worth about $27,000. Dunhill Financial LLC bought a new stake in shares of Badger Meter in the second quarter worth about $28,000. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Badger Meter in the second quarter worth about $30,000. Institutional investors own 89.01% of the company’s stock.

Badger Meter Price Performance

Shares of Badger Meter stock opened at $135.68 on Monday. The company has a 50-day moving average of $137.64 and a 200 day moving average of $138.66. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 31.70 and a beta of 0.65. Badger Meter, Inc. has a 1 year low of $112.09 and a 1 year 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 EPS for the quarter, topping the consensus estimate of $1.01 by $0.01. The business had revenue of $220.30 million for the quarter, compared to analyst estimates of $220.59 million. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. Badger Meter’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 earnings per share. On average, equities analysts anticipate that Badger Meter, Inc. will post 4.5 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. Investors of record on Friday, August 28th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, August 28th. This is an increase from Badger Meter’s previous quarterly dividend of $0.40. Badger Meter’s dividend payout ratio (DPR) is currently 41.12%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Seaport Research Partners set a $160.00 price target on Badger Meter in a report on Thursday, July 23rd. JPMorgan Chase & Co. cut their price objective on Badger Meter from $172.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Barclays reissued an “underweight” rating and set a $112.00 target price (up from $109.00) on shares of Badger Meter in a research note on Tuesday, July 28th. Wall Street Zen upgraded Badger Meter from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Weiss Ratings raised Badger Meter from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Badger Meter presently has an average rating of “Hold” and an average target price of $164.00.

Insiders Place Their Bets

In related news, VP Edward F. Callahan acquired 751 shares of Badger Meter stock in a transaction that occurred on Thursday, July 30th. The stock was bought at an average price of $135.25 per share, with a total value of $101,572.75. Following the transaction, the vice president directly owned 1,937 shares in the company, valued at approximately $261,979.25. This represents a 63.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.