Wellington Management Group LLP Reduces Stock Position in Badger Meter, Inc. $BMI

Key Points

• Wellington Management Group LLP reduced its stake in Badger Meter, Inc. by 24.6%, now holding 15,179 shares valued at approximately $2.89 million.
• Badger Meter announced an increase in its quarterly dividend to $0.40 per share, up from the previous $0.34, with an annualized dividend yield of 0.9%.
• Despite reporting a net margin of 15.53% and revenue exceeding expectations, Badger Meter's EPS of $1.17 fell short of the consensus estimate of $1.19.

Wellington Management Group LLP lessened its stake in Badger Meter, Inc. (NYSE:BMI - Free Report) by 24.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,179 shares of the scientific and technical instruments company's stock after selling 4,961 shares during the period. Wellington Management Group LLP owned 0.05% of Badger Meter worth $2,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of BMI. Golden State Wealth Management LLC boosted its stake in Badger Meter by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock valued at $35,000 after acquiring an additional 92 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in Badger Meter by 83.0% in the first 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 acquired a new position in Badger Meter in the first quarter valued at $37,000. Heck Capital Advisors LLC acquired a new position in Badger Meter in the fourth quarter valued at $39,000. Finally, Olde Wealth Management LLC acquired a new position in Badger Meter in the first quarter valued at $41,000. Institutional investors and hedge funds own 89.01% of the company's stock.

Badger Meter Stock Performance

NYSE:BMI traded up $0.76 during mid-day trading on Thursday, reaching $182.52. The stock had a trading volume of 127,526 shares, compared to its average volume of 278,951. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 39.76, a PEG ratio of 3.22 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 business has a 50 day simple moving average of $207.48 and a 200 day simple moving average of $214.14.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.19 by ($0.02). The firm had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.38 million. Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. Badger Meter's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 EPS. As a group, sell-side analysts expect 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 will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be given a $0.40 dividend. The ex-dividend date is 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 payout ratio is 34.86%.

Analyst Ratings Changes

Several equities analysts have issued reports on BMI shares. 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 research note on Wednesday, July 23rd. Raymond James Financial initiated coverage on shares of Badger Meter in a research note on Tuesday, June 3rd. They set a "market perform" rating for the company. Stifel Nicolaus set a $224.00 target price on shares of Badger Meter in a research note on Wednesday, July 23rd. Finally, Robert W. Baird increased their target price on shares of Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.