China smartphone shipments slumped in June on inventory overhang: Jefferies
Kenneth Bockhorst, the Chairman, President, and CEO of Badger Meter Inc . (NYSE:BMI), recently sold 16,073 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $209.74, amounting to a total transaction value of approximately $3.37 million.
Following this sale, Bockhorst retains ownership of 34,961 shares in the company. The price range for the shares sold was between $208.98 and $210.52, as noted in the filing. InvestingPro analysis reveals that Badger Meter has maintained dividend payments for 55 consecutive years and raised them for 32 straight years, demonstrating consistent shareholder returns. The stock currently trades at a P/E ratio of 49.5x, suggesting premium valuation levels. Discover 13 additional exclusive insights about BMI with an InvestingPro subscription.
In other recent news, Badger Meter has announced its largest acquisition to date, purchasing SmartCover for $185 million. This acquisition is expected to initially dilute Badger Meter’s earnings per share in 2025, but analysts from Stifel project that the impact will be neutral by 2026. The SmartCover acquisition is a significant development for Badger Meter, marking a milestone in its growth strategy. Stifel analysts have increased the price target for Badger Meter shares to $209, maintaining a Hold rating on the stock. The acquisition is anticipated to contribute positively to Badger Meter’s organic growth starting in 2026. Furthermore, it is expected to enhance the company’s EBITDA margins by 2027 and 2028. Analysts at Stifel noted the robust growth of Badger Meter’s base business, emphasizing the strategic importance of the SmartCover acquisition. These recent developments highlight Badger Meter’s ongoing efforts to expand its capabilities in smart water monitoring solutions.
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