Badger Meter, Inc. $BMI Shares Bought 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 increased its stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 1,451.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 134,715 shares of the scientific and technical instruments company's stock after purchasing an additional 126,031 shares during the period. Jane Street Group LLC owned approximately 0.46% of Badger Meter worth $25,630,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Badger Meter by 2.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 305,039 shares of the scientific and technical instruments company's stock worth $58,034,000 after purchasing an additional 8,345 shares during the period. United Services Automobile Association purchased a new position in shares of Badger Meter during the 1st quarter worth approximately $369,000. Jones Financial Companies Lllp boosted its position in shares of Badger Meter by 186.9% during the 1st quarter. Jones Financial Companies Lllp now owns 6,372 shares of the scientific and technical instruments company's stock worth $1,212,000 after purchasing an additional 4,151 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in shares of Badger Meter by 771.9% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 16,593 shares of the scientific and technical instruments company's stock worth $3,157,000 after purchasing an additional 14,690 shares during the period. Finally, UniSuper Management Pty Ltd lifted its holdings in Badger Meter by 3.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 29,103 shares of the scientific and technical instruments company's stock worth $5,537,000 after buying an additional 1,041 shares in the last quarter. Hedge funds and other institutional investors own 89.01% of the company's stock.

Badger Meter Trading Up 1.6%

Shares of Badger Meter stock traded up $2.80 on Thursday, reaching $175.47. 218,698 shares of the stock were exchanged, compared to its average volume of 285,426. Badger Meter, Inc. has a 1-year low of $162.17 and a 1-year high of $256.08. The business has a fifty day moving average price of $194.90 and a two-hundred day moving average price of $211.85. The firm has a market capitalization of $5.17 billion, a PE ratio of 38.23, a PEG ratio of 3.14 and a beta of 0.87.

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

Badger Meter Increases Dividend

The company also recently declared 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 represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from Badger Meter's previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 22nd. Badger Meter's dividend payout ratio (DPR) is presently 34.86%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BMI shares. Raymond James Financial started coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Stifel Nicolaus set a $224.00 target price on shares of Badger Meter in a report on Wednesday, July 23rd. Robert W. Baird increased their target price on shares of Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. started coverage on shares of Badger Meter in a report on Tuesday, September 9th. They set an "overweight" rating and a $230.00 target price on the stock. Finally, Royal Bank Of Canada reduced their target price on shares of Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $237.00.

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.