Badger Meter, Inc. $BMI Shares Acquired by Jane Street Group LLC

Key Points

• Jane Street Group LLC significantly increased its stake in Badger Meter, Inc. by 1,451.3%, acquiring a total of 134,715 shares worth approximately $25.63 million.
• Badger Meter recently announced a dividend increase to $0.40 per share, up from the previous $0.34, representing an annual yield of 0.9%.
• The company reported earnings of $1.17 per share for the recent quarter, missing estimates but achieving a 9.9% revenue growth year-over-year.

Jane Street Group LLC lifted its position in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 1,451.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 134,715 shares of the scientific and technical instruments company's stock after buying an additional 126,031 shares during the period. Jane Street Group LLC owned approximately 0.46% of Badger Meter worth $25,630,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC increased its holdings in shares of Badger Meter by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock worth $35,000 after buying an additional 92 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Badger Meter by 83.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 88 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Badger Meter during the 1st quarter worth $37,000. Heck Capital Advisors LLC acquired a new stake in shares of Badger Meter during the 4th quarter worth $39,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Badger Meter during the 1st quarter worth $41,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Trading Down 1.9%

Shares of NYSE BMI opened at $177.82 on Friday. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $256.08. The company has a market cap of $5.24 billion, a P/E ratio of 38.74, a P/E/G ratio of 3.21 and a beta of 0.87. The stock has a fifty day moving average price of $198.64 and a 200 day moving average price of $212.51.

Badger Meter (NYSE:BMI - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.02). The business had revenue of $238.10 million for the quarter, compared to analyst estimates of $235.38 million. Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The firm's revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 earnings per share. On average, sell-side analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. began coverage on Badger Meter in a report on Tuesday. They set an "overweight" rating and a $230.00 price objective for the company. Stifel Nicolaus set a $224.00 price target on Badger Meter in a report on Wednesday, July 23rd. Raymond James Financial began coverage on Badger Meter in a report on Tuesday, June 3rd. They issued a "market perform" rating for the company. Royal Bank Of Canada lowered their price target on Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Finally, Robert W. Baird increased their price target on Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $237.00.

About Badger Meter

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.

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