Citigroup Inc. Boosts Stake in Badger Meter, Inc. $BMI

Key Points

• Citigroup Inc. increased its stake in Badger Meter, Inc. by 8.6% in Q1, holding a total of 45,478 shares worth approximately $8.65 million.
• Badger Meter’s stock declined by 2.2%, with a current price of $186.83 after reporting quarterly earnings of $1.17 EPS, missing expectations.
• The company announced a quarterly dividend of $0.40 per share, up from $0.34, with an annualized yield of 0.9%.

Citigroup Inc. lifted its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,478 shares of the scientific and technical instruments company's stock after buying an additional 3,596 shares during the period. Citigroup Inc. owned approximately 0.15% of Badger Meter worth $8,652,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its stake in shares of Badger Meter by 162.5% in 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 period. Heck Capital Advisors LLC bought a new stake in shares of Badger Meter in the fourth quarter valued at approximately $39,000. Golden State Wealth Management LLC boosted its stake in shares of Badger Meter by 100.0% in 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 period. SBI Securities Co. Ltd. boosted its stake in shares of Badger Meter by 83.0% in 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 period. Finally, Banque Cantonale Vaudoise bought a new stake in Badger Meter during the first quarter worth $37,000. 89.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Raymond James Financial assumed coverage on Badger Meter in a research note on Tuesday, June 3rd. They set a "market perform" rating for the company. Stifel Nicolaus set a $224.00 target price on Badger Meter in a research note on Wednesday, July 23rd. Royal Bank Of Canada lowered their price target on shares of Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Argus set a $240.00 price target on shares of Badger Meter in a report on Thursday, April 24th. Finally, Robert W. Baird increased their price objective on Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Badger Meter presently has a consensus rating of "Hold" and an average target price of $238.40.

Badger Meter Price Performance

Shares of BMI stock traded down $4.35 on Thursday, reaching $183.25. 333,247 shares of the company were exchanged, compared to its average volume of 406,834. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 39.92, a PEG ratio of 3.30 and a beta of 0.84. The company has a 50-day moving average of $218.03 and a 200-day moving average of $216.12. Badger Meter, Inc. has a one year low of $162.17 and a one year high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly 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). Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The business had revenue of $238.10 million during the quarter, compared to the consensus estimate of $235.38 million. During the same period in the previous year, the business posted $1.12 EPS. Badger Meter's revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Increases Dividend

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

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.