Curi RMB Capital LLC Acquires 2,283 Shares of Badger Meter, Inc. $BMI

Key Points

• Curi RMB Capital LLC increased its stake in Badger Meter by 5.1% during the first quarter, now owning 47,383 shares valued at approximately $9 million.
• Badger Meter reported $1.17 earnings per share for the last quarter, falling short of analysts' expectations, but saw a year-over-year revenue increase of 9.9% to $238.10 million.
• The company announced a quarterly dividend increase from $0.34 to $0.40, with an ex-dividend date of August 22nd, reflecting a yield of 0.9%.

Curi RMB Capital LLC grew its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,383 shares of the scientific and technical instruments company's stock after acquiring an additional 2,283 shares during the quarter. Curi RMB Capital LLC owned approximately 0.16% of Badger Meter worth $9,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BMI. Westfield Capital Management Co. LP acquired a new stake in shares of Badger Meter in the first quarter valued at $65,448,000. Nuveen LLC acquired a new position in Badger Meter in the 1st quarter worth about $44,715,000. GAMMA Investing LLC increased its position in Badger Meter by 21,179.0% in the 1st quarter. GAMMA Investing LLC now owns 167,040 shares of the scientific and technical instruments company's stock worth $31,779,000 after purchasing an additional 166,255 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Badger Meter by 25.9% during the 1st quarter. Invesco Ltd. now owns 630,891 shares of the scientific and technical instruments company's stock valued at $120,027,000 after acquiring an additional 129,945 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Badger Meter by 1,451.3% during the 1st quarter. Jane Street Group LLC now owns 134,715 shares of the scientific and technical instruments company's stock valued at $25,630,000 after acquiring an additional 126,031 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Badger Meter Price Performance

NYSE BMI traded down $0.86 on Friday, reaching $182.39. The company had a trading volume of 269,927 shares, compared to its average volume of 268,243. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 39.74, a P/E/G ratio of 3.22 and a beta of 0.88. Badger Meter, Inc. has a fifty-two week low of $162.17 and a fifty-two week high of $256.08. The business has a 50 day moving average of $204.92 and a two-hundred day moving average of $213.57.

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, research analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current fiscal 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 given a dividend of $0.40 per share. This is an increase from Badger Meter's previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Badger Meter's dividend payout ratio (DPR) is presently 34.86%.

Wall Street Analysts Forecast Growth

BMI has been the subject of a number of research reports. Stifel Nicolaus set a $224.00 price objective on Badger Meter in a research report on Wednesday, July 23rd. Robert W. Baird boosted 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. Raymond James Financial began coverage on Badger Meter in a research report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Finally, Royal Bank Of Canada decreased their target price on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Badger Meter has a consensus rating of "Hold" and an average 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.