Dorsey & Whitney Trust CO LLC Sells 1,462 Shares of Badger Meter, Inc. $BMI

Key Points

• Dorsey & Whitney Trust CO LLC reduced its holdings in Badger Meter, Inc. by 5.4% during the first quarter, leaving it with 25,813 shares valued at approximately $4.9 million.
• Badger Meter recently announced a dividend increase from $0.34 to $0.40 per share, with the new dividend set to be paid on September 5th, representing a 0.9% yield.
• The company's quarterly earnings showed a slight miss on expectations, reporting $1.17 EPS against a consensus estimate of $1.19, while revenue rose by 9.9% year over year.

Dorsey & Whitney Trust CO LLC reduced its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 25,813 shares of the scientific and technical instruments company's stock after selling 1,462 shares during the quarter. Dorsey & Whitney Trust CO LLC owned approximately 0.09% of Badger Meter worth $4,911,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Capital Fund Management S.A. acquired a new position in shares of Badger Meter in the first quarter valued at $4,791,000. EntryPoint Capital LLC boosted its holdings in Badger Meter by 272.3% during the first quarter. EntryPoint Capital LLC now owns 3,574 shares of the scientific and technical instruments company's stock worth $680,000 after buying an additional 2,614 shares during the last quarter. Bowen Hanes & Co. Inc. raised its position in shares of Badger Meter by 0.7% during the first quarter. Bowen Hanes & Co. Inc. now owns 224,050 shares of the scientific and technical instruments company's stock worth $42,626,000 after purchasing an additional 1,630 shares during the period. Hsbc Holdings PLC raised its position in shares of Badger Meter by 406.3% during the first quarter. Hsbc Holdings PLC now owns 21,813 shares of the scientific and technical instruments company's stock worth $4,132,000 after purchasing an additional 17,505 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Badger Meter in the 1st quarter valued at approximately $2,138,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

Badger Meter Price Performance

NYSE:BMI traded up $6.2850 during mid-day trading on Friday, reaching $189.7350. 297,529 shares of the company's stock traded hands, compared to its average volume of 387,758. Badger Meter, Inc. has a 12-month low of $162.17 and a 12-month high of $256.08. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 3.23 and a beta of 0.84. The company has a 50 day moving average price of $216.97 and a 200-day moving average price of $215.93.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $235.38 million. During the same quarter in the prior year, the firm earned $1.12 EPS. The firm's revenue for the quarter was up 9.9% on a year-over-year basis. As a group, analysts forecast 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 issued a dividend of $0.40 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. This is a boost from Badger Meter's previous quarterly dividend of $0.34. Badger Meter's dividend payout ratio (DPR) is presently 29.63%.

Analysts Set New Price Targets

BMI has been the topic of a number of research analyst reports. Stifel Nicolaus set a $224.00 target price on shares of Badger Meter in a report on Wednesday, July 23rd. Royal Bank Of Canada lowered their target price on Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Robert W. Baird increased their price target on Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Raymond James Financial started coverage on Badger Meter in a report on Tuesday, June 3rd. They issued a "market perform" rating on the stock. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.