Badger Meter, Inc. $BMI Shares Bought by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd significantly increased its holdings in Badger Meter, Inc. by 771.9%, acquiring an additional 14,690 shares to bring its total to 16,593 shares valued at approximately $3,157,000.
• Badger Meter reported a quarterly earnings per share (EPS) of $1.17, missing analyst expectations of $1.19, although its revenue of $238.10 million exceeded expectations of $235.38 million.
• The company announced a dividend increase from $0.34 to $0.40 per share, reflecting a shift in its annual dividend to $1.60, with a payout ratio of 34.86%.

Dynamic Technology Lab Private Ltd raised its stake in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 771.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,593 shares of the scientific and technical instruments company's stock after purchasing an additional 14,690 shares during the quarter. Badger Meter comprises 0.5% of Dynamic Technology Lab Private Ltd's holdings, making the stock its 13th biggest position. Dynamic Technology Lab Private Ltd owned approximately 0.06% of Badger Meter worth $3,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of BMI. Westfield Capital Management Co. LP acquired a new position in Badger Meter during the 1st quarter valued at approximately $65,448,000. Nuveen LLC acquired a new position in Badger Meter during the 1st quarter valued at approximately $44,715,000. GAMMA Investing LLC increased its stake in Badger Meter by 21,179.0% during the 1st quarter. GAMMA Investing LLC now owns 167,040 shares of the scientific and technical instruments company's stock valued at $31,779,000 after purchasing an additional 166,255 shares in the last quarter. Invesco Ltd. increased its stake in 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 purchasing an additional 129,945 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in 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 purchasing an additional 126,031 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

Badger Meter Price Performance

Shares of NYSE BMI traded down $3.27 during midday trading on Friday, hitting $178.02. The company's stock had a trading volume of 116,575 shares, compared to its average volume of 280,415. Badger Meter, Inc. has a 1 year low of $162.17 and a 1 year high of $256.08. The business's fifty day simple moving average is $199.94 and its two-hundred day simple moving average is $212.72. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 38.78, a price-to-earnings-growth ratio of 3.12 and a beta of 0.87.

Badger Meter (NYSE:BMI - Get Free Report) last issued 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 return on equity of 21.57% and a net margin of 15.53%.The firm had revenue of $238.10 million during 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 was up 9.9% compared to the same quarter last year. Analysts anticipate that Badger Meter, Inc. will post 4.65 EPS for the current fiscal year.

Badger Meter Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 22nd. This is an increase from Badger Meter's previous quarterly dividend of $0.34. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Badger Meter's dividend payout ratio is 34.86%.

Analysts Set New Price Targets

A number of research analysts have issued reports on BMI shares. Robert W. Baird upped their price target on shares of Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. started coverage on shares of Badger Meter in a report on Tuesday. They issued an "overweight" rating and a $230.00 price objective on the stock. Royal Bank Of Canada dropped their price objective on shares of Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 price objective on shares of Badger Meter in a report on Wednesday, July 23rd. Finally, Raymond James Financial began coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.00.

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.