PDT Partners LLC Reduces Holdings in Badger Meter, Inc. $BMI

Key Points

• PDT Partners LLC has reduced its holdings in Badger Meter, Inc. by 33.6%, selling 5,572 shares in the first quarter and now owning 11,036 shares valued at approximately $2.1 million.
• Badger Meter announced an increase in its quarterly dividend to $0.40, which will be paid on September 5th, representing a 0.9% dividend yield.
• The company reported earnings of $1.17 per share for the last quarter, slightly missing the consensus estimate of $1.19, while revenue increased 9.9% year-over-year.

PDT Partners LLC cut its holdings in Badger Meter, Inc. (NYSE:BMI - Free Report) by 33.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,036 shares of the scientific and technical instruments company's stock after selling 5,572 shares during the quarter. PDT Partners LLC's holdings in Badger Meter were worth $2,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its position in shares of Badger Meter by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 92 shares during the period. SBI Securities Co. Ltd. boosted its position 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 acquiring an additional 88 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Badger Meter during the 1st quarter valued at approximately $37,000. Heck Capital Advisors LLC bought a new stake in Badger Meter during the 4th quarter valued at approximately $39,000. Finally, Olde Wealth Management LLC bought a new stake in Badger Meter during the 1st quarter valued at approximately $41,000. 89.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BMI has been the topic of several research reports. Royal Bank Of Canada cut their price objective 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. Raymond James Financial assumed coverage on shares of Badger Meter in a report on Tuesday, June 3rd. They set a "market perform" rating for the company. Robert W. Baird lifted their target price 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 target price on shares of Badger Meter in a 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 company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $238.40.

Badger Meter Trading Down 0.5%

Badger Meter stock traded down $0.86 during trading on Friday, reaching $182.39. The company had a trading volume of 269,927 shares, compared to its average volume of 266,646. Badger Meter, Inc. has a 52 week low of $162.17 and a 52 week high of $256.08. The firm's 50-day simple moving average is $204.92 and its 200 day simple moving average is $213.60. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 39.74, a price-to-earnings-growth ratio of 3.22 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 business had revenue of $238.10 million during the quarter, compared to analysts' expectations of $235.38 million. During the same quarter in the previous year, the company posted $1.12 EPS. The company's quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts predict that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, August 22nd. This is a positive change from Badger Meter's previous quarterly dividend of $0.34. 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 34.86%.

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.