Seven Eight Capital LP Sells 3,746 Shares of Badger Meter, Inc. (NYSE:BMI)

Seven Eight Capital LP decreased its position in shares of Badger Meter, Inc. (NYSE:BMI) by 62.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,298 shares of the scientific and technical instruments company’s stock after selling 3,746 shares during the period. Seven Eight Capital LP’s holdings in Badger Meter were worth $428,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in shares of Badger Meter by 2,633.3% during the 1st quarter. Bessemer Group Inc. now owns 492 shares of the scientific and technical instruments company’s stock valued at $80,000 after purchasing an additional 474 shares during the period. GAMMA Investing LLC increased its stake in Badger Meter by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 499 shares of the scientific and technical instruments company’s stock worth $93,000 after buying an additional 158 shares in the last quarter. SYSTM Wealth Solutions LLC raised its holdings in Badger Meter by 9.8% during the first quarter. SYSTM Wealth Solutions LLC now owns 615 shares of the scientific and technical instruments company’s stock valued at $100,000 after acquiring an additional 55 shares during the period. CWM LLC lifted its position in shares of Badger Meter by 40.9% in the second quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company’s stock valued at $107,000 after acquiring an additional 167 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in shares of Badger Meter by 91,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 916 shares of the scientific and technical instruments company’s stock worth $154,000 after acquiring an additional 915 shares during the period. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Stock Performance

Shares of BMI opened at $217.07 on Monday. The stock has a market capitalization of $6.38 billion, a PE ratio of 62.56, a P/E/G ratio of 2.75 and a beta of 0.77. The company’s fifty day moving average is $200.70 and its 200 day moving average is $186.64. Badger Meter, Inc. has a fifty-two week low of $134.06 and a fifty-two week high of $219.71.

Badger Meter (NYSE:BMI) last posted its earnings results on Friday, July 19th. The scientific and technical instruments company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. The firm had revenue of $216.70 million for the quarter, compared to the consensus estimate of $203.39 million. Badger Meter had a net margin of 14.44% and a return on equity of 21.42%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. As a group, research analysts forecast that Badger Meter, Inc. will post 4.06 earnings per share for the current year.

Badger Meter Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a dividend of $0.34 per share. The ex-dividend date was Friday, August 23rd. This is an increase from Badger Meter’s previous quarterly dividend of $0.27. This represents a $1.36 dividend on an annualized basis and a yield of 0.63%. Badger Meter’s dividend payout ratio is 39.19%.

Insider Activity

In related news, VP Kimberly K. Stoll sold 1,097 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $205.00, for a total transaction of $224,885.00. Following the sale, the vice president now owns 3,861 shares in the company, valued at approximately $791,505. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Robert W. Baird lifted their target price on Badger Meter from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Stifel Nicolaus boosted their target price on shares of Badger Meter from $175.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. StockNews.com cut shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Argus boosted their price target on shares of Badger Meter from $204.00 to $218.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $184.20.

Badger Meter 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.