Caisse DE Depot ET Placement DU Quebec Makes New $3.57 Million Investment in Badger Meter, Inc. $BMI

Key Points

• The Caisse DE Depot ET Placement DU Quebec has invested approximately $3.57 million in Badger Meter, purchasing 18,742 shares during the first quarter.
• Badger Meter recently reported quarterly earnings of $1.17 per share, falling short of analysts' expectations, despite a revenue increase by 9.9% compared to the previous year.
• The company announced an increase in its quarterly dividend from $0.34 to $0.40 per share, marking a dividend yield of 0.9%.

Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 18,742 shares of the scientific and technical instruments company's stock, valued at approximately $3,566,000. Caisse DE Depot ET Placement DU Quebec owned approximately 0.06% of Badger Meter at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in shares of Badger Meter during the 4th quarter valued at $39,000. Golden State Wealth Management LLC grew its position 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 valued at $35,000 after purchasing an additional 92 shares in the last quarter. SBI Securities Co. Ltd. grew its position 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 valued at $37,000 after purchasing an additional 88 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Badger Meter during the 1st quarter valued at $37,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Badger Meter during the 1st quarter valued at $41,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Price Performance

Badger Meter stock traded down $2.35 during mid-day trading on Tuesday, hitting $180.58. The company's stock had a trading volume of 158,696 shares, compared to its average volume of 279,300. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 39.25, a price-to-earnings-growth ratio of 3.22 and a beta of 0.88. The business has a 50 day moving average price of $210.01 and a 200-day moving average price of $214.60. Badger Meter, Inc. has a 12 month low of $162.17 and a 12 month high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.02). The firm 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 revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 earnings per share. On average, equities research analysts expect that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal year.

Badger Meter Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a $0.40 dividend. This is an increase from Badger Meter's previous quarterly dividend of $0.34. The ex-dividend date is Friday, August 22nd. This represents a $1.60 annualized dividend and a yield of 0.9%. Badger Meter's dividend payout ratio (DPR) is 34.86%.

Wall Street Analyst Weigh In

BMI has been the subject of a number of recent analyst reports. Royal Bank Of Canada reduced 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 target price on shares of Badger Meter in a research report on Wednesday, July 23rd. Raymond James Financial started coverage on shares of Badger Meter in a research report on Tuesday, June 3rd. They issued a "market perform" rating for the company. Finally, Robert W. Baird upped their target price on shares of Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Badger Meter has a consensus rating of "Hold" and an average price target of $238.40.

Badger Meter Company 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.