Needham Investment Management LLC Decreases Holdings in Badger Meter, Inc. $BMI

Key Points

• Needham Investment Management LLC has reduced its stake in Badger Meter, Inc. by 17.8%, now owning 14,500 shares worth approximately $2.76 million.
• Badger Meter reported a quarterly earnings miss of $1.17 per share, slightly below analysts' estimates of $1.19, despite a 9.9% year-over-year revenue increase.
• The company also recently increased its quarterly dividend from $0.34 to $0.40 per share, reflecting a payout ratio of 34.86% and an annual yield of 0.9%.

Needham Investment Management LLC lessened its position in Badger Meter, Inc. (NYSE:BMI - Free Report) by 17.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,500 shares of the scientific and technical instruments company's stock after selling 3,150 shares during the quarter. Needham Investment Management LLC's holdings in Badger Meter were worth $2,759,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in 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 buying an additional 92 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in 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 buying an additional 88 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Badger Meter during the 1st quarter valued at about $37,000. Heck Capital Advisors LLC bought a new stake in Badger Meter during the 4th quarter valued at about $39,000. Finally, Olde Wealth Management LLC bought a new stake in Badger Meter during the 1st quarter valued at about $41,000. Institutional investors own 89.01% of the company's stock.

Badger Meter Stock Up 2.4%

Shares of NYSE:BMI traded up $4.32 during midday trading on Thursday, reaching $181.80. The company's stock had a trading volume of 110,722 shares, compared to its average volume of 280,118. The firm has a market capitalization of $5.36 billion, a PE ratio of 39.61, a P/E/G ratio of 3.16 and a beta of 0.87. Badger Meter, Inc. has a twelve month low of $162.17 and a twelve month high of $256.08. The stock has a fifty day moving average of $201.17 and a 200 day moving average of $212.89.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings data 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). Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The business had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.38 million. During the same quarter in the previous year, the company earned $1.12 EPS. The firm's revenue was up 9.9% compared to the same quarter last year. Sell-side analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share 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 a positive change from Badger Meter's previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a yield of 0.9%. Badger Meter's payout ratio is 34.86%.

Analyst Ratings Changes

BMI has been the subject of a number of research analyst reports. Royal Bank Of Canada decreased their price objective 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. Raymond James Financial started coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They set a "market perform" rating for the company. 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 target for the company. Robert W. Baird boosted their price target on shares of Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Stifel Nicolaus set a $224.00 price target on shares of Badger Meter in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Badger Meter presently has an average rating of "Moderate Buy" and a consensus price target of $237.00.

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.