LPL Financial LLC Cuts Stock Holdings in Badger Meter, Inc. (NYSE:BMI)

Key Points

• LPL Financial LLC reduced its stake in Badger Meter by 21.6% during the first quarter, ending with approximately 0.12% ownership worth $6.79 million.
• Badger Meter increased its quarterly dividend to $0.40, representing a 0.8% yield, up from the previous quarterly dividend of $0.34.
• The company reported $1.17 EPS for the last quarter, missing analysts' estimates, but achieved a 9.9% year-over-year increase in revenue.

LPL Financial LLC trimmed its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 21.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,705 shares of the scientific and technical instruments company's stock after selling 10,095 shares during the period. LPL Financial LLC owned about 0.12% of Badger Meter worth $6,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in shares of Badger Meter by 162.5% during the fourth quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock valued at $31,000 after buying an additional 91 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Badger Meter by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock valued at $35,000 after buying an additional 92 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Badger Meter by 83.0% during the first quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 88 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Badger Meter during the fourth quarter valued at about $39,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Badger Meter during the first quarter valued at about $41,000. 89.01% of the stock is currently owned by institutional investors.

Badger Meter Price Performance

BMI traded down $4.25 during trading on Friday, reaching $186.83. 304,901 shares of the company's stock were exchanged, compared to its average volume of 521,146. Badger Meter, Inc. has a 1 year low of $162.17 and a 1 year high of $256.08. The stock has a market capitalization of $5.51 billion, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 3.29 and a beta of 0.84. The company's fifty day simple moving average is $222.84 and its 200-day simple moving average is $216.88.

Badger Meter (NYSE:BMI - Get Free Report) last posted 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). The business had revenue of $238.10 million for the quarter, compared to analysts' expectations of $235.38 million. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%. The business's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 earnings per share. Equities analysts forecast that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.40 per share. This is a positive change from Badger Meter's previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Badger Meter's payout ratio is presently 29.63%.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank Of Canada decreased their price target on shares of Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 price target on shares of Badger Meter in a research report on Wednesday, July 23rd. Argus set a $240.00 price objective on shares of Badger Meter in a research report on Thursday, April 24th. Robert W. Baird increased their price objective on shares of Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Raymond James Financial initiated coverage on shares of Badger Meter in a research report on Tuesday, June 3rd. They issued a "market perform" rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $238.40.

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.